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United Spirits hits record high on change of guard

On Thursday, Diageo acquired a 14.98% stake in United Spirits for Rs 3,135 crore through its subsidiary Relay B.V.

SI Reporter  |  Mumbai 

is trading higher by 2% at Rs 2,609, extending its 18% rally in past four days, after drinks giant took control of the company on acquiring 25% stake in the company.

On Thursday, acquired a 14.98% stake in for Rs 3,135 crore through its subsidiary Relay B.V. has acquired 21.77 million shares of at price of Rs 1,440 per share on off-market-deal from promoters of teh company.

Before this, in May, had acquired a 10% stake through a preferential allotment and 0.44% in open after made to shareholders.

“Pursuant to the sale of the sale shares, Plc and Relay B.V. will be considered ‘promoters’ of the company,” said in a regulatory filing.

United Breweries (Holdings) Limited and Kinghfisher Finvest India, which collectively hold 11.08% stake, will also continue as promoters of the company, it added.

The stock opened at Rs 2,620 and hit a record high of Rs 2,626 on BSE. A combined around 1 million shares have changed hands on the counter till 1140 hours on BSE and NSE.

First Published: Fri, July 05 2013. 11:54 IST