Diageo Inks $2 Billion Deal With Vijay Mallya

on 19/11/12 at 7:13 am

Industry

Finally some good news for Vijay Mallya, India’s king of good times. Ending months of speculation, British spirits giant Diageo inked a deal Friday to acquire a majority 53.4%  stake in Mallya’s  Bombay Stock Exchange-listed United Spirits,  for over $2 billion.

Snatching India’s largest liquor company which has a 55% market share with sales of close to 123 million cases annually, positions Diageo in an important emerging market that it has been trying to get a foothold in for a while now. Diageo now gets a jump over Pernod Ricard which so far had a stronger market position in India.

FULL STORY via Forbes