| United Spirits acquires Tern Distilleries | 24-NOV-09 |
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| As part of its plan to augment its primary distillation capacity over the next two to three years, Vijay Mallya’s United Spirits has acquired the entire share capital of Tern Distilleries (Tern), based in Andhra Pradesh, for Rs 13.42 crore. |
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| United Spirits acquires Tern Distilleries | 23-NOV-09 |
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| United Spirits today acquired the entire share capital of Tern Distilleries (Tern) based in Andhra Pradesh for Rs 13.42 crore. Consequent to this acquisition, Tern has become a wholly owned subsidiary of United Spirits. |
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| United Spirits Q2 net dips 25 per cent | 28-OCT-09 |
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| United Spirits, India’s largest spirits firm from the UB Group, has reported a 25 per cent decline in net profit to Rs 69.6 crore for the quarter ended September 30, compared with Rs 93 crore in the corresponding period last fiscal. The company has been hit by high cost of raw materials and the servicing of Rs 6,000 crore debt. Total income has risen 19 per cent to Rs 1,091 crore for the quarter as the company effected price increases. Volumes grew 10 per cent. |
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| United Spirits Q2 net down 25% at Rs 69 cr | 27-OCT-09 |
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| United Spirits, India's largest spirits firm, has posted a 25 per cent decline in net profit to Rs 69.6 crore for the quarter ended September 30, 2009 where as the same was at Rs 94 crore for the quarter ended September 30, 2008.
Total Income is up 19 per cent to Rs 1091 crore for the quarter ended September 30, 2009 where as the same was at Rs 914 crore for the quarter ended September 30, 2008.
The company detailing the drop in net profit has said that during the corresponding quarter of |
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| Bagpiper punch for Diageo | 22-OCT-09 |
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| United Spirits banks on its flagship brand to become the world's largest selling liquor company. |
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| USL raises Rs 1,615 cr in QIP; to repay debt | 22-OCT-09 |
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| The country’s largest liquor maker, United Spirits, today said it had raised Rs 1,615.60 crore by private placement of shares with qualified institutional buyers and the net proceeds would be primarily used to repay debt. |
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| United Spirits PE deal unlikely to sail through | 07-OCT-09 |
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| United Spirits, India’s largest spirits firm from the stables of UB Group, efforts to raise Rs 1,000 crore through the private equity route is unlikely to sail through. United Spirits, owned by Indian billionaire Vijay Mallya has been in discussions with global private equity giants including KKR and Capital International to raise resources to largely settle the huge debt pile of the firm. |
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| UB mulls to raise $300-350 mn to reduce debt burden | 30-SEP-09 |
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| United Spirits, the world's third-largest spirits maker by volume, today said it plans to raise around $300-350 million to reduce its debt burden which it mobilised to buy out the world's largest scotch producer, Whyte and Mackay. |
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| United Spirits: Little to cheer about | 16-SEP-09 |
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| Poor performance from Whyte and Mackay and adverse foreign exchange movements pulled down United Spirits’ consolidated numbers for 2008-09. The liquor firm reported a loss of Rs 410 crore. |
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| United Spirits to reduce debt by October-end | 11-SEP-09 |
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| Vijay Mallya-controlled United Spirits Ltd (USL) has reiterated its plans to deleverage its balance sheet by the end of October this year. USL has a debt of around Rs 6,000 crore — a leverage of nearly 2.5 times. |
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