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India: $2B alcohol merger on hold for review

By  |  January 15, 2013
India: $2B alcohol merger on hold for review

The Competition Commission of India has announced it will review a proposed merger between Diageo Plc and United Spirits Ltd. United Spirits is the largest spirits company in India, according to its website. Diageo, based in Britain, is a global alcoholic drink company. According to reports, the merger would hopefully ease some of the debt burden held by UB Group, which holds United Spirits in its roster. The CCI’s review of the merger, however, will delay that hoped-for debt relief. The deal to sell United Spirits to Diageo was initially valued at $2.1 billion for a 53 percent shareholding.

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