Diageo-USL deal burnishes Mallyas deal-making cred

November 09, 2012 17:19

Vijay Mallya has always been keen to prove that despite his larger-than-life image of a hard-partying, free-spending millionaire, he is a shrewd and capable businessman.

The deal with Diageo Plc., the world's biggest spirits maker, should bolster those credentials. The promoters (read: Mallya and associates) retain around 15% stake in the liquor company even after selling around 19% to Diageo for 660 million (approximatelyRs.5,700 crore).

Diageo will also subscribe to fresh equity totalling around a 8% stake, and make an open offer for 25% of the public shareholding. The total consideration of the deal is around Rs.11,166 crore. Read

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