'Our approach has been to work with consumers and help them drink better, not more.'
Delhi High Court judge Justice Swarana Kanta Sharma has recused herself from hearing a plea by Congress MP Karti Chidambaram seeking to quash a CBI FIR against him. The FIR alleges that Chidambaram helped an alcoholic beverage company over the ban on the duty-free sale of its whisky.
Billionaire David Blitzer, co-founder of Harris Blitzer Sports & Entertainment, is conducting due diligence on Royal Challengers Bengaluru and Rajasthan Royals.
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.
One consortium is led by Manipal Hospitals' Dr Ranjan Pai along with US private equity firm KKR and Singapore investment major Temasek. The other is a combine of Swedish private equity firm EQT and Premji Invest, the investment office backed by Wipro founder Azim Premji.
A consortium led by the Aditya Birla Group emerged the lead bidder to acquire IPL franchise Royal Challengers Bengaluru for a whopping Aditya Birla Group-Led Consortium Acquire IPL Champions RCB for Rs Rs 16,660 crore.
Diageo's India arm will begin a strategic review of its investment in a unit which owns the IPL team Royal Challengers Bengaluru, the spirits maker said on Wednesday.
Satyan Gajwani, chairman of Times Internet Limited and RCB's new co-owner, discusses the significance of American companies investing in IPL franchises like RCB and Rajasthan Royals, highlighting the league's immense growth potential and global appeal.
Pharma tycoon Adar Poonawalla has emerged as a potential suitor for the Indian Premier League franchise Royal Challengers Bengaluru, sparking fresh speculation around a possible change in ownership of one of the league's most high-profile teams.
The Indian Premier League's overall brand value declined by 20 per cent to $9.6 billion in 2025 due to lost momentum in the league caused by tensions between India and Pakistan, and teams adjusting to their squad composition post the auction.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
'We have just scratched the surface because cricket has been around for the longest time.'
It is not yet clear if Diageo Plc is looking to sell its complete stake in RCB.
Organised by TCM Sports, Cricket West Indies' long-term strategic partner, the the Golf Day brought together cricketing legends, global business leaders, and sporting icons on one stage, marking a celebration of West Indies cricket in the company of some of the formidable forces of the game such as Sir Vivian Richards, Brian Lara, and Sir Richie Richardson.
Targets women with new offerings such as Baileys cream liqueur and Nilaya. Liquor maker Diageo India is planning a big marketing push for its core brands such as Johnnie Walker, Smirnoff and newer offerings in India such as Baileys and Nilaya. Both Johnnie Walker and Smirnoff have nearly 90 per cent share in the premium segment of the scotch and vodka market.
Three splashy cocktails to knock your guests' socks off.
The Central Bureau of Investigation has registered a fresh case of corruption against former finance minister P Chidambaram's son and Congress MP, Karti Chidambaram, for allegedly giving relief to alcoholic beverage company Diageo Scotland over a ban on the duty-free sale of its whisky, officials said on Thursday.
The acquisition of United Spirits will arm Diageo with a formidable mass-market portfolio, but consumers are up-trading rapidly.
Diageo Western Europe President John Kennedy would will take responsibility for Russia, Eastern Europe and Turkey as President, Diageo Europe.
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.
The world's largest spirits company Diageo is upping its play in India, even as the home-grown UB Group sets out to conquer mature global markets.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
Soon after acquiring strategic management control of Vijay Mallya's crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market.
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
According to various senior UB Group officials, the strategy of 14 power brands' focus is expected to be rolled out soon.
The company contented before the tribunal that the amount was paid outside India.
UK-based Diageo's acquisition of 53.4 per cent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year.
The money was paid to Mallya in two tranches in his offshore accounts.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
The stock of United Spirits, the country's largest liquor company by market capitalisation (mcap), has gained 11 per cent over the past week on double-digit growth guidance, rising premiumisation trend, operationally in-line performance in the March (Q4FY24) quarter and a rally in consumer stocks. The revenue growth of the company came in at 7 per cent year-on-year (Y-o-Y) mirroring the growth of the prestige and above (P&A) segment. This segment comprising premium brands accounts for 88 per cent of the revenues.
Stakeholders' Empowerment Services (SES) has advised Diageo to renege on its deal with United Spirits (USL) chairman Vijay Mallya.
The companies have postponed their open offer, too.
He led the company's acquisition of United Spirits.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
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.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
To pay 10 per cent interest for the period of delay.
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