Diageo said to narrow Whyte & Mackay suitors

Diageo Plc narrowed the bidders for its Whyte & Mackay spirits business to suitors including Lion Capital LLP and KKR & Co LP, according to people. Lion, which has handed in the highest bid, is competing against KKR, Thai Beverage PCL, Davide Campari-Milano SpA and a Russian company, said the people. The transaction may value Whyte & Mackay at £400 million ($660 million), the people said. The final round of offers is expected by April 17, they said. Diageo, the world's biggest distiller, acquired Whyte & Mackay last year when it purchased control of its Indian parent, United Spirits. Diageo declined to comment on the sales process, as did a representative for United Spirits.

United Spirits bought Whyte & Mackay, the maker of Scotch whisky including Jura and The Dalmore, for £595 million in 2007. The company is based in Glasgow, Scotland.