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UK: OFT takes turn at Diageo, United Spirits merger

By  |  July 22, 2013
UK: OFT takes turn at Diageo, United Spirits merger

The UK’s Office of Fair Trading announced Monday it launched a consultation process to evaluate the merger between spirits giants United Spirits and Diageo, a deal made earlier this month. The OFT said it will look into whether the merger violates competition laws. Diageo is the world’s largest spirits manufacturer and includes popular products such as Johnnie Walker, Guinness and Smirnoff; the company bought a 25 percent share of United Spirits, based in India. Reports say the OFT is open for public comment until August 2 regarding the deal, which resulted in Diageo becoming the largest shareholder of United Spirits. The transaction was delayed by the Competition Commission of India, as well as the Securities and Exchange Board of India, and pushed back the parties’ original expected deadline of last March to complete the buyout.

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    Full Content: Economic Times

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