Diageo ups shareholding in United Spirits for $27.3m

Johnnie Walker owner Diageo has increased its shareholding in Indian drinks group United Spirits to 55.2% following a US$27.3 million investment. Diageo first acquired a controlling stake in Bangalore-based United Spirits Limited (USL) in 2014. The UK-based firm has now purchased a further 3,310,515 shares (around 0.46% shareholding) in USL from the Bombay Stock Exchange. Diageo paid a per-share price of 591.95 Indian rupees (US$8.26) for the new shares. According to Diageo, USL is a…

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