New Delhi: worldwide fluid giant Diageo Plc has established
market regulator SEBI's permission for an open offer to obtain extra 26 percent
stake in United feelings Ltd for Rs 11,448.91 crore.
This is the subsequent open offer made by Diageo to gain best part manage in India's number one fluid hard.
As part of the contract to buy 53.4 percent wager in Vijay Mallya-led UB group's USL, Diageo has made a Rs 11,448.91 crore open offer for pay for of 26 percent wager in the company from non-promoter shareholders.
The open offer, which was complete last month, has been now empty by the Securities and Exchange Board of India, according to a public announcement.
Sebi issued final explanation, essential for the offer and the deal as a whole to go from side to side, on May 21.
The worldwide liquor giant would pay Rs 3,030 per share of USL, which is more than twice the price of Rs 1,440 per share it obtainable in the preceding offer last year.
The present for 3,77,85,214 USL shares, being made through pass on BV, a wholly owned not direct auxiliary of Diageo, is another effort by the company to add to its stake away from 50 percent in the flagship solid of the UB Group.
If the offer is completely subscribed, transmit will hold 54.78 percent of USL's issued share capital and will have salaried about Rs 18,023.14 crore for its total shareholding in USL.
Relay at present holds 28.78 percent of USL's issued share capital, acquired for Rs 6,574.22 crore.
The open offer is planned to create on June 11 and close on June 24.
Diageo, which sells brands such as Smirnoff vodka and Johnnie Walker whiskey, had announced in 2012 it would pick up a 53.4 percent wager in USL in a multi-prepared transaction for a total of Rs 11,166.5 crore.
The open offer Diageo ready in April last year met a lukewarm reply from shareholders of USL -- India's top inner health maker with brands such as Signature, Bagpiper, Antiquity and Royal Challenge -- and it chosen up a 25.02 percent stake for Rs 5,235.85 crore.
This is the subsequent open offer made by Diageo to gain best part manage in India's number one fluid hard.
As part of the contract to buy 53.4 percent wager in Vijay Mallya-led UB group's USL, Diageo has made a Rs 11,448.91 crore open offer for pay for of 26 percent wager in the company from non-promoter shareholders.
The open offer, which was complete last month, has been now empty by the Securities and Exchange Board of India, according to a public announcement.
Sebi issued final explanation, essential for the offer and the deal as a whole to go from side to side, on May 21.
The worldwide liquor giant would pay Rs 3,030 per share of USL, which is more than twice the price of Rs 1,440 per share it obtainable in the preceding offer last year.
The present for 3,77,85,214 USL shares, being made through pass on BV, a wholly owned not direct auxiliary of Diageo, is another effort by the company to add to its stake away from 50 percent in the flagship solid of the UB Group.
If the offer is completely subscribed, transmit will hold 54.78 percent of USL's issued share capital and will have salaried about Rs 18,023.14 crore for its total shareholding in USL.
Relay at present holds 28.78 percent of USL's issued share capital, acquired for Rs 6,574.22 crore.
The open offer is planned to create on June 11 and close on June 24.
Diageo, which sells brands such as Smirnoff vodka and Johnnie Walker whiskey, had announced in 2012 it would pick up a 53.4 percent wager in USL in a multi-prepared transaction for a total of Rs 11,166.5 crore.
The open offer Diageo ready in April last year met a lukewarm reply from shareholders of USL -- India's top inner health maker with brands such as Signature, Bagpiper, Antiquity and Royal Challenge -- and it chosen up a 25.02 percent stake for Rs 5,235.85 crore.