Diageo and United Spirits confirm talks

25 September, 2012

Drinks giants Diageo and United Spirits have confirmed they are in talks over Diageo acquiring a stake in United Spirits.

However, both parties have warned the talks may not lead to a deal.

United Spirits is the Indian drinks company controlled by Vijay Mallya. Mallya also founded troubled airline Kingfisher.

The joint statement from United Spirits and Diageo confirms “that Diageo plc is in discussion with United Spirits Limited and United Breweries (Holdings) Limited in respect of possible transactions for Diageo plc to acquire an interest in United Spirits Limited. However there is no certainty that these discussions will lead to a transaction.”





Comment

Menezes upbeat

Despite some gloomy reactions among city analysts to Diageo’s full year results to June 2015, chief executive Ivan Menezes was very upbeat at his briefing to journalists and city analysts in a top London restaurant today (July 30).

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