Mumbai: Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of Rs 3,115. The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker.
Morgan Stanley says United Spirits could also focus on the "prestige" liquor segment, improving margins.
The bank also expects capital efficiencies, reduced leverage, strengthened leadership, and consistent disclosures to boost United Spirits' shares. As of 11.07 am, United Spirits shares were up 4.2 per cent at Rs 2,507.
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11:50 AM, May 22, 2013
Liquor baron Vijay Mallya has filed a petition in the Bombay High Court against the lenders to his grounded airline Kingfisher for selling a portion of the pledged shares of United Spirits (USL) worth Rs 100 crore, according to banking sources. ...
09:43 AM, Apr 02, 2013
Liquor baron Vijay Mallya has been moved out of Forbes' global rich list of 1,226 billionaires, even as the number of Indians in this elite club has grown since last year. With a net worth of USD one billion, Mallya was ranked 45th among 48 Indians on this annual rich list in March 2012, while he was placed at 1,153rd position globally. ...
06:00 PM, Mar 05, 2013
Top officials of Diageo and United Spirits, including its chairman Vijay Mallya, are likely to meet this week to discuss regulatory and other issues related to their proposed $2 billion deal. The transaction -- that would see global liquor major Diageo acquiring majority stake in United Spirits Ltd (USL) -- is yet to receive green signal from fair trade regulator CCI, which is believed to have concerns about possible impact...
12:08 PM, Feb 17, 2013
Moving closer to complete its Rs 11,167 crore takeover of majority stake in United Spirits, global liquor giant Diageo Plc has got market regulator Sebi's clearance for an open offer to acquire 26 per cent stake from public shareholders of the UB group firm. As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441...
01:40 PM, Feb 05, 2013
With barely a week left ahead of the November 30 deadline set by bankers to pump in fresh capital into the grounded Kingfisher Airlines, the lead lender State Bank of India on Saturday said it has not heard from the company so far. ...
05:16 PM, Nov 24, 2012
Mumbai/Delhi: Liquor baron Vijay Mallya's $2.1 billion deal to sell a stake in United Spirits could throw a lifeline to his grounded Kingfisher Airlines, although pulling the carrier back from the brink will not be easy. The flamboyant "King of Good Times" is keeping his plans to himself for now. However, his decision to give up control of his group's flagship company as Kingfisher heads towards the point of no...
07:11 PM, Nov 14, 2012
Mumbai: Shares of United Spirits Ltd jumped as much as 21 per cent on Monday to a two-year high after several brokerages upgraded the stock, saying the Indian liquor company sold a stake to Diageo at a higher-than-expected price. Morgan Stanley raised its rating on United Spirits to 'overweight' from 'equal-weight', saying the $2.1 billion deal priced the company "significantly higher" than its base case value. "USL is now a...
11:56 AM, Nov 12, 2012
New Delhi: Vijay Mallya owned United Breweries on Friday signed a $2 billion deal with Diageo group and sold controlling stake of 53.4 per cent in United Spirits Limited (USL). Announcing the deal, Mallya said, "The cash infusion will help USL de-leverage itself. It is a win-win situation for both USL and Diageo." Ivan Menezen, the CEO of Diageo, seconded Mallya. He said, "The alcohol market in India will grow...
02:30 PM, Nov 09, 2012
Mumbai: United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore for the second quarter ended September 30, as against Rs 19.5 crore in the year-ago period. The revenue of the company, part of Vijay Mallya-led UB Group, also rose to Rs 875 crore in the same period. The company had recorded revenue of Rs 750 crore in the second quarter of the previous fiscal. On quarter-on-quarter...
09:40 AM, Nov 09, 2012
New Delhi: Vijay Mallya-owned United Breweries has reached a deal with the world's largest producer of spirits Diageo and the deal close to a billion dollars is expected to be announced on Friday. Diageo is likely to take the management control post the deal, while Mallya will continue to remain the chairman of United Spirits Limited. The UB Group and Diageo finally agreed to sign the term-sheet for the United...
09:00 AM, Nov 09, 2012
New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limited-global spirits company Diageo deal has hit a roadblock over issues related to management control. According to sources there are two important issues that have to be clarified. First, about the management control and second, about the no extension given to United Spirits to bring down stake in Whyte...
09:20 PM, Oct 23, 2012
New Delhi: Vijay Mallya and senior executives of United Spirits have been in London to finalise the final contours of the deal. A term sheet is ready and is likely to be signed soon, after October 16. There has been buzz for over a month that the deal is close to the finish line. Although, there are a lot of contours to be figured out yet, the deal is to...
10:05 AM, Oct 16, 2012
Bangalore/London: Diageo and UB Group On Tuesday said they are in talks for a deal under which the UK-based drinks major may pick up stake in the latter's United Spirits, but maintained there is no certainty of the transaction. "Both United Spirits and United Breweries Holdings have issued a statement this morning stating that they are in discussion with Diageo to potentially acquire a shareholding in United Spirits", UB group...
10:24 PM, Sep 25, 2012
Bangalore: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB). Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has...
07:55 AM, Jul 10, 2012
"All is fair in love and war and when it comes to the liquor industry, it is war." This was an extract from a note signed by none other than the man they called the King of Good Times. It landed on the table of Ramesh Vangal, the Asia-Pacific head of liquor giant Seagram and Param Uberoi, the head of Indian operations. United Breweries Group Chairman Vijay Mallya was seething...
11:14 AM, Oct 18, 2011
The British firm was to buy 15 per cent stake in Mallya's United Spirits Ltd. ...
08:40 PM, Aug 25, 2009
China consumes more than 200 million cases of liquor a year, far more than 135 million consumers in India. ...
01:01 PM, Sep 07, 2006
