USL to reduce debt by up to 2,000 crore in 2 yrs

  • PTI
  • Updated: May 30, 2016 07:03 IST

NEW DELHI: Diageo-controlled liquor firm United Spirits Ltd (USL) is looking to reduce its debt by up to Rs 2,000 crore in the next two years through various measures that include sale of shares and properties earlier owned by embattled businessman Vijay Mallya. “We are looking at a debt reduction of Rs 1,000-2,000 crore in the next two years. On an annualised basis, it would be around Rs 1,000-odd crore,” USL chief financial officer Sanjeev Churiwala told analysts on Friday. USL has an outstanding debt of over Rs 4,000 crore as on March 31, 2016.

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