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| US-based KKR in race to buy into United Spirits: Report |
| Press Trust Of India / New Delhi/London May 12, 2009, 00:01 IST |
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The US buyout specialist, Kohlberg Kravis Roberts (KKR), has joined the race to acquire a minority stake in Vijay Mallya-promoted United Spirits Ltd, says a media report.
“...It has emerged that Kohlberg Kravis Roberts (KKR), the US buyout specialist, has entered the race to buy a minority stake in United Spirits, the parent company through which Mallya owns Whyte & Mackay,” The Times has reported.
The report, published online, said that KKR faced competition from the likes of Diageo, the British maker of Guinness stout and Gordon's gin.
UB Group officials were not available for comment.
Earlier, Mallya had said that four players, including Diageo, had shown interest in acquiring a minority stake in the UB Group company. United Spirits is the largest liquor manufacturer in India.
However, Mallya had declined to divulge the names of other companies, citing a confidentiality clause. In January this year, the UB Group had initiated talks with Diageo for selling a stake in United Spirits Ltd.
The Times also said that Mallya was looking to buy a stake in UK-based Snow Leopard vodka through Whyte & Mackay.
The publication noted that the deal would allow the vodka brand to break into America, using Whyte & Macka’s strong distribution network.
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