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UK: Diageo offers divestitures in pursuit of India’s United Spirits

 |  November 25, 2013

In its pursuit of a controlling stake in India’s United Spirits, reports say Diageo, based in the UK, has offered to sell the majority of its Whyte & Mackay’s whiskey business.

The globe’s largest spirits manufacturer announced Monday that it is looking to settle competition concerns raised by the Office of Fair Trading regarding the buyout of 25 percent in the Indian firm. Analysts say the Whyte & Mackay stake could be worth between $566 million and $971 million.

Concerns were raised among competition regulators regarding the conflict between Diageo-owned Whyte & Mackay and its lower-end whiskey business Bell’s.

Diageo acquired the quarter stake in United Spirits last July.

Full Content: Reuters

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