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Diageo this week confirmed that it is in talks over the possible acquisition of an interest in United Spirits Limited, the leading Indian spirits group. United Spirits claims to be the largest spirits company in the world, with 122.75 million cases in the fiscal year ended 31 March 2012.
The companies said: “Diageo plc is in discussion with United Spirits Limited and United Breweries (Holdings) Limited in respect of possible transactions for Diageo plc to acquire an interest in United Spirits Limited. However there is no certainty that these discussions will lead to a transaction.”
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The two companies previously held talks over an acquisition three years ago, though nothing came of it at the time.
United Spirits owns Whyte & Mackay (since 2007) and wine company Bouvey Ladubay as 100% subsidiaries. The group is owned by leading Indian businessman Vijay Mallya. He also owns Kingfisher Airlines, the loss-making, debt-laden Indian carrier that has been seeking investors recently.
A Whyte & Mackay spokesman told The Moodie Report: “We have no comment to make. These discussions are between our parent company United Spirits and Diageo. For Whyte & Mackay it’s business as usual.”
