Business Standard

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.

Related News

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

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

“Pursuant to the sale of the sale shares, Diageo Plc and Relay B.V. will be considered ‘promoters’ of the company,” United Spirits 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.

Read more on:   
|
|

Read More

Parekh Aluminex gains on debt restructuring plans

The company has already got approval from the Registrar of Companies-Mumbai, vide letter dated April 05, 2013.

Quick Links

 

Market News

Today's picks- 27 November 2014

Nifty, Bank Nifty, BHEL, HCL Technologies & Hindustan Unilever

Akash Prakash: Debunking two worries

Are India stocks over-owned? And are they too expensive?

Street seeks clarity on coal block auctions

Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms

Oil falls $3 to 4-yr low as OPEC leaves output unchanged

Oil prices have fallen by more than a third since June as increasing production in North America from shale oil has overwhelmed demand

India's groundnut oil output may drop by 41 per cent

Poor crop output results in oil production dip

Back to Top