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.'
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
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.
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 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.
He led the takeover of Vijay Mallya's United Spirits.
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.
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.
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.
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.
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.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
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.
The next step will be the 10 per cent preferential allotment, which the UB Group promoters will be making in favour of Diageo.
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.
A tribunal on Monday halted a $75-million settlement due to be paid by Diageo Plc to Mallya.
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.
The offer price remains the same at Rs 1,440 per share.
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
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.
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.
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.
McDowell has acquired 85 per cent of Triumph Distilleries and Vintners Pvt Ltd at around Rs 600 million from a clutch of investors.
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.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
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.
Here's the full text of the statement
Banks are seeking an order that Mallya should appear in person before the court.
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.
The Supreme Court has rejected an appeal by Vijay Mallya to overturn charges against him for allegedly violating foreign exchange rules, adding to the legal challenges facing one of the country's most prominent businessmen.
'Everyone knows that you including your son won't be able to spend all the wealth that you have earned then why not at least pay the salaries of your employees,' the letter said.
The bankers also alleged that the Rs 594-crore claim at this point of time is a clear-cut tactics of UBHL to delay the process of justice, knowing fully well that the case is on the verge of disposal.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
- I think it's a 'No' at this point of time, purely based on the whole negative aura that has been generated
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
USL is already contesting a Karnataka High Court order.
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