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United Spirits approves preferential allotment of shares to Diageo

Reuters   May 27, 2013
First Published: 12:39 IST(27/5/2013) | Last Updated: 12:42 IST(27/5/2013)

United Spirits Ltd 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 company said in a statement to the Bombay Stock Exchange.

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