Reuters Market Eye - Shares in United Breweries Holdings Ltd jump 9.9 percent after CNBC-TV18 and ET Now reported the Karnataka High Court has allowed UBHL to sell its shares in group company United Spirits to Diageo Plc to complete the long-pending deal.
UBHL is the holding company for a group of companies controlled by Vijay Mallya, including Kingfisher Airlines Ltd , and the sale of shares would help Mallya finalise the transfer of a controlling stake in United Spirits to Diageo.
UBHL owned 15.7 percent stake in United Spirits as of the end March.
Creditors of bankrupt Kingfisher had filed a petition in the Karnataka court to try to prevent the transfer of UB Holding shares in United Spirits to Diageo.
A spokesman for the UB Group declined to comment on the TV reports.
(Reporting by Rafael Nam)
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