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UK: India’s United Spirits proceeds with divestitures for OFT

 |  January 9, 2014

As ordered by the UK’s Office of Fair Trading, India-based United Spirits said it will proceed with divestiture plans to sell off its UK-based Whyte and Mackay operations in a deal struck following its merger with Diageo.

The OFT ordered concessions after UK-based Diageo agreed to acquire more than 25 percent of its Indian counterpart, which raised competition concerns among regulators. Specifically, reports say the OFT was concerned UK whiskey prices would rise following the acquisition.

United Spirits confirmed Thursday of its plans to sell the W&M business.

Full Content: Live Mint

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