Jan 12, 2015 at 12:00 | Source: Moneycontrol.com
United Spirits gained close to 7 percent. Minority shareholders gave their nod to enter into licensing and cost sharing agreement with Diageo Plc.
Jan 12, 2015 at 11:57 | Source: Moneycontrol.com
Shares of United Spirits (USL) hit a record high of Rs 3,142.55 on Monday, up as much as 10 percent intraday after shareholders approved licence for manufacturing and distribution of Diageo brands.
Jan 01, 2015 at 22:01 | Source: CNBC-TV18
Indian business tycoon Vijay Mallya has been floundering in rough weather for more than 3 years, but 2014 saw his fortunes hit a new low. From being declared a willful defaulter, to losing control of his flagship company, Mallya was in the news in 2014 for all the wrong reasons reports CNBC-TV18's Poornima Murali and Archana Shukla.
Dec 18, 2014 at 21:44 | Source: CNBC-TV18
Although minority shareholders have rebuffed this proposal once, USL has called for a second extraordinary general meeting on January 9 to try and win them over.
Dec 04, 2014 at 19:38 | Source: PTI
In a surprise move on December 1, Mallya had resigned as director of the Mangalore Chemicals and Fertilizers Ltd (MCFL), which is the target of a takeover battle betweenDeepak Fertilisers and Zuari Group.
Dec 01, 2014 at 18:00 | Source: CNBC-TV18
United Spirits was under pressure after minority shareholders rejected 9 proposals, which are related party transactions resolutions at its Extraordinary General Meeting. However, sources tell CNBC-TV18 that the company is hopeful of re-approaching shareholders on the matter.
Dec 01, 2014 at 16:16 | Source: CNBC-TV18
Shareholders rejected the permission to grant USL a takeover of Diageo Indias operation through a postal ballot. The company failed to get 75 percent nod as 30 percent institutions voted against the resolution.
Nov 13, 2014 at 18:05 | Source: CNBC-TV18
These RPTs signed in June 2013 few weeks before it entered into agreement with Diageo for stake sale were enforced by the company without seeking shareholder nod till now.
Oct 31, 2014 at 22:13 | Source: Moneycontrol.com
Diageo had to sell Whyte & Mackay when it decided to take over United Spirits. This was after the UK competition watchdog raised anti-trust issues. Whyte & Mackay was sold for 430 million pounds.
Oct 31, 2014 at 22:09 | Source: Moneycontrol.com
The jury may still be out on whether 'acche din' have come through or not, but global spirits major Diageo is surely benefiting from the turn in consumer sentiment.