Morgan Stanley sells United Spirits' shares worth Rs 566 cr

Global financial services firm Morgan Stanley Asia (Singapore) Pte, a shareholder of United Spirits, on Friday sold 24.50 lakh shares of the Vijay Mallya-led company for over Rs 566 crore in open market transactions.

The shares were purchased by Bank of Nova Scotia Asia at an average price of Rs 2,312.5 apiece, as per the bulk deal information with stock exchanges. The aggregate value of the transaction amounted to Rs 566.56 crore.

As on May 31, 2013, Morgan Stanley Asia held 58.46 lakh shares of United Spirits representing 4.02 per cent stake in the company.

In a separate deal, JSW Steel, a promoter entity of JSW Energy, offloaded 27.27 lakh shares of the Sajjan Jindal-led company for Rs 13.15 crore.
The shares were acquired by JSW Steel Coated Products and Amba River Coke at an average price of Rs 48.25 apiece.

JSW Steel held nearly 7.80 crore shares (amounting to 4.75 percent stake) of JSW Energy, as on May 24, 2013. At the BSE, shares of United Spirits rose 1.70 per cent to close at Rs 2,371.95 apiece, while shares of JSW Energy jumped 7.95 per cent to settle at Rs 50.90 apiece.