Talks initiated with Indian investors, private equity players.
Indian entrepreneurs who made global acquisitions are bullish since they've achieved margin expansions which were even higher than what they'd originally anticipated, and global managements have accepted Indian shareholders very well.
This is as definitive as it can get. Dutch global beer major Heineken is understood to have outlined its intent to Vijay Mallya's United Breweries that it does not want to have any conflicting presence in India.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
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.
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
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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.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
While it will most certainly impact his personal credit record, it will also have repercussions for his other businesses and companies he is associated with.
The Indian ace was voted the Players' Player of the Year at the Asian Tour's UBS Awards Gala 2006.
United Spirits Limited clocked sales volume of 100 million cases for the fiscal ended March 31, 2010, becoming the world's second largest spirit company by volumes, UB group chairman Dr Vijay Mallya,announced on Wednesday.
Liquor baron Vijay Mallya is believed to have acquired Bouvet-Ladubay, the wine subsidiary of French champagne major Taittinger for $15 million.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Kingfisher Airlines may cut jobs, UB group chairman and CEO Vijay Mallya said on Thursday.
The survey noted that the highest growth rates for gross domestic product were recorded by China (10.7 per cent) and Taiwan (9.1 per cent).
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
A case has been lodged against UB group chairman Vijay Mallya by farmers allegedly for forgery in the Patna district police on Thursday said.
USL is already contesting a Karnataka High Court order.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
If the offer is accepted, banks will have to take a haircut of about 30 per cent or Rs 2,500 crore of the total receivables of over Rs 9,000 crore.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
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
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Strong demand for Apple's latest iPhone 6 and iPhone 6 plus smartphones has helped the Chinese market outsell the United States for the first time.
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TPG was one of the first global private equity firms to enter Asia, opening a Shanghai office in 1994.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
The tax authorities have been piling pressure for a long time against Mallya and on Kingfisher Airlines to cough up the dues.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
The UB Group plans to export rum to the United Kingdom and the United States and position it as Indian Rum, with an initial shipment of 100,000 cases this fiscal.
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According to data reviewed by Business Standard, the dues from UB Holdings alone to USL shot up by 4.3 times to Rs 1,188 crore (Rs 11.88 billion) by the end of the last financial year, compared to an outstanding of Rs 272 crore (Rs 2.72 billion) by the end of FY12.
The two giants of Indian football, Mohun Bagan and East Bengal, are facing turbulent times. On the pitch, East Bengal finished a respectable third in the 2012-13 I-League season, while Mohun Bagan finished a disappointing tenth.
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