United Spirits today said UK-based Diageo Plc is in talks to buy stake in the Vijay Mallya owned firm.
"United Spirits and Diageo Plc confirm that the UK-based company is in discussion with it and United Breweries Holdings in respect of possible transactions to acquire an interest in the liquor firm," United Spirits said in a filing to the BSE.
It further said, "However, there is no certainty that these discussions will lead to a transaction."
Shares of United Spirits were trading higher by 2.82 percent at Rs 1,083.70 on the BSE at 1146 hrs.
The company is also holding its 13th Annual General Meeting (AGM) today.
The UB group is the promoter of USL with a 28 percent stake.
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