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.
The acquisition of United Spirits will arm Diageo with a formidable mass-market portfolio, but consumers are up-trading rapidly.
Avinash Kumar, Executive Chef, Novotel Imagica Khopoli shares his specially curated cocktails and martinis for the monsoon.
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.
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.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
Formula One was accused of sending out a mixed message on alcohol at the Monaco Grand Prix on Friday by giving extensive publicity to drinks brands while campaigning for road safety.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
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.
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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.
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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