USL-Diageo to discuss contours of deal today

The deal between Diageo and United Spirits is likely to be in the last leg. Executives of both the firms are meeting today to discuss contours of the deal, reports CNBC-TV18 quoting sources.
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Oct 03, 2012, 01.11 PM | Source: Moneycontrol.com

USL-Diageo to discuss contours of deal today

The deal between Diageo and United Spirits is likely to be in the last leg. Executives of both the firms are meeting today to discuss contours of the deal, reports CNBC-TV18 quoting sources.

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USL-Diageo to discuss contours of deal today

The deal between Diageo and United Spirits is likely to be in the last leg. Executives of both the firms are meeting today to discuss contours of the deal, reports CNBC-TV18 quoting sources.

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The deal between Diageo and United Spirits is likely to be in the last leg. Executives of both the firms are meeting today to discuss contours of the deal, reports CNBC-TV18 quoting sources. It is learnt that the deal may be done in two tranches with a combination of fresh issue and secondary sale.

According to sources, Vijay Mallya-controlled firm USL will issue fresh equity shares to Diageo. Post-issue UB Group may sell part stake to the global spirits major. However, UB Group seeks to retain majority shareholding in the company while Diageo may hold less than 24% in USL once the deal is completed.

Both UB Group and Diageo have refused to comment.

At 09:43 hrs United Spirits was quoting at Rs 1,280.50, up Rs 41, or 3.31%. It has touched a 52-week high of Rs 1,309.40.
 
It was trading with volumes of 400,599 shares. In the previous trading session, the share closed up 1.76% or Rs 21.45 at Rs 1,239.50.

The company's trailing 12-month (TTM) EPS was at Rs 26.21 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 48.89. The latest book value of the company is Rs 449.44 per share. At current value, the price-to-book value of the company was 2.85. The dividend yield of the company was 0.2%.

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USL-Diageo to discuss contours of deal today

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