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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.

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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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