United Spirits Rs 5441 cr open offer '13 - Financial Express

Agencies Posted: Tuesday, Nov 20, 2012 at 2105 hrs IST New Delhi: Diageo Plc will launch its over Rs 5,441 crore open offer in January next year to acquire 26 per cent stake in Vijay Mallya-led United Spirits. United Spirits had earlier signed a deal to sell the majority stake to the UK-based Diageo. In a filing to the BSE, United Spirits Ltd (USL) today said the open offer will commence on January 7, 2013, and will close on January 18, 2013. USL said Diageo will "acquire up to 37,785,214 equity shares of face value of Rs 10 each at an offer price of Rs 1,440 per share, aggregating to Rs 54,410,708,160". Shares of USL today closed at Rs 1,762.20 on the BSE, up 0.54 per cent over the previous close. On November 9, Diageo had announced a deal to buy a 53.4 per cent stake in USL for Rs 11,166.5 crore in a multi-structured deal. Once the stake acquisition is completed, India will become the second ... contd. via Business - Google News

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