It is not yet clear if Diageo Plc is looking to sell its complete stake in RCB.
'We have just scratched the surface because cricket has been around for the longest time.'
Diageo Western Europe President John Kennedy would will take responsibility for Russia, Eastern Europe and Turkey as President, Diageo Europe.
US market regulator SEC has slapped penalties of over $16 million on spirits giant Diageo Plc for indulging in corrupt practices in India, Thailand and South Korea to push up sales of its leading brands like Johnnie Walker.
Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore (Rs 54.41 billion) open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.
On November 9, 2012 Diageo had announced buying a 53.4 per cent stake in USL for Rs 11,166.5 crore (Rs 111.66 billion) in a multi-structured deal.
Global liquor major Diageo Plc has submitted details sought by market regulator Sebi regarding its Rs 5,441 crore open offer for buying stake in Vijay Mallya-led United Spirits.
Ivan Manuel Menezes, the India-born CEO of the world's biggest spirits company Diageo, died on Wednesday, days after being hospitalised for treatment of stomach ulcer. Menezes, 64, who was to retire at the end of this month, died in London, the company said. "It is with great sadness that Diageo announces that Sir Ivan Menezes has passed away following a brief illness, with his family at his side," it said in a statement. Diageo had on Monday announced that CEO-designate Debra Crew will assume the top role on an interim basis immediately as Menezes undergoes medical treatment.
The offer price remains the same at Rs 1,440 per share.
As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441 crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders.
The next step will be the 10 per cent preferential allotment, which the UB Group promoters will be making in favour of Diageo.
The world's largest liquor maker Diageo Plc on Tuesday made an open offer worth Rs 11,448.91 crore (Rs 114.48 billion) to acquire an additional 26 per cent stake in United Spirits Ltd.
He led the takeover of Vijay Mallya's United Spirits.
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
In a filing to the BSE, United Spirits said the manager to the open offer, JM Financial Institutional Securities Pvt Ltd has informed that the offer price shall remain at Rs 1,440 per equity share.
UK-based Diageo paid Rs 3,030 for a share of United Spirits Ltd, more than double of Rs 1,440 it offered in the previous bid last year.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
SBI had moved the Debt Recovery Tribunal because Mallya owes over Rs 7,200 crore to a consortium of banks led by State Bank of India
Deal will help the Diageo to ramp up its presence in the global whiskey market and Vijay Mallya to repay debts of its group company Kingfisher Airlines.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
The company contented before the tribunal that the amount was paid outside India.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Credited with introducing eight new brands from the stable of the world's largest liquor maker Diageo Plc, Asif Adil, the managing director of its India subsidiary, Diageo India Pvt Ltd, has set himself a target of achieving a sales turnover of over Rs 4,000 crore (Rs 40 billion) in India in three years.
A tribunal on Monday halted a $75-million settlement due to be paid by Diageo Plc to Mallya.
Shares of United Spirits on Monday soared nearly 35 per cent, taking its market valuation higher by Rs 6,211 crore, after the UK-based Diageo Plc said it will buy 53.4 per cent stake in the company for Rs 11,166.5 crore in a multi-structured deal.
McDowell has acquired 85 per cent of Triumph Distilleries and Vintners Pvt Ltd at around Rs 600 million from a clutch of investors.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
USL is already contesting a Karnataka High Court order.
Here's the full text of the statement
The company will move swiftly to consolidate its recent acquisition of three distilleries and will also take a decision on setting up a Rs 650-crore two-furnace glass plant in Andhra Pradesh, said sources.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
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