United Spirits approves preferential allotment of shares to Diageo

United Spirits on Monday approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc , as part of the stake sale deal announced in November.

United Spirits will allot the shares to the Diageo unit at Rs 1,440 a share, the Indian company said in a statement to the Bombay Stock Exchange.