Joint statement from Diageo plc and United Spirits Limited

Diageo plc and United Spirits Limited have issued the following joint statement:

United Spirits Limited and Diageo plc confirm that Diageo plc is in discussion with United Spirits
Limited and United Breweries (Holdings) Limited in respect of possible transactions for Diageo plc to
acquire an interest in United Spirits Limited. However there is no certainty that these discussions will
lead to a transaction.

fandbnews comment:

This deal could be very complex but interesting. Diageo needs an entry into the lucrative Indian Market and Dr. Mallya’s United Spirits enjoys a large Market Share of over 50% in India. His other business interests need the cash too.

Very interested to see how this story and merger or lack of it develops.

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