Vijay Mallya's United Spirits has bought out the Scottish Scotch major Whyte and Mackay.An official announcement is scheduled for Wednesday.The deal which was initially valued at Pound 650 million was settled at pound 595 million which includes a pound 100 million payout to bridge a Pension fund Deficit in W&M's Pension trust.
The main owners of the Scottish firm is expected to leave the board including chief executive Mr.Vivian Imerman,who owns nearly two thirds of the firm.However,United spirits is keen on Mr Brannan ,the erstwile manager to head the existing management,as scotch is a new proposition for the Indian major.
Whyte and Mackay has an array of brands including their USP W&M scotch whisky,Dalmore scotch whisky,Isle jura single malt and Vladivar vodka.United spirits will look to promote these in India and some other markets too.
Mr Alok Gupta, one of Vijay Mallya's senior executives is expected to control the operations going forward.
Source: The Economic times
Showing posts with label United Spirits. Show all posts
Showing posts with label United Spirits. Show all posts
Tuesday, May 15, 2007
Wednesday, January 10, 2007
The Pawar family may buy 49% in UB Group winery
Union Agriculture Minister Sharad Pawar’s family could take up to 49% stake in the UB Group’s Four Seasons winery in Baramati, Maharashtra. The Pawar family will also have a strong boardroom presence in the UB Group’s first wine venture in the country. United Spirits, the spirits flagship of UB Group, will directly hold at least 51% stake in Four Seasons. The Pawar family and a few other local stakeholders will own the rest. The Pawar family is expected to keep a significant minority stake in the venture. The seven-member company board, headed by Mr. Vijay Mallya, is likely to have three Pawar family members on it.
The winery will have a five mn-litre capacity (7 mn bottles) and would attract investments of over Rs. 70 crores, when completed. Four Seasons is likely to hit the market with its first premium offering in October this year even though an economy range could be launched earlier.
Read the complete article in The Economic Times.
The winery will have a five mn-litre capacity (7 mn bottles) and would attract investments of over Rs. 70 crores, when completed. Four Seasons is likely to hit the market with its first premium offering in October this year even though an economy range could be launched earlier.
Read the complete article in The Economic Times.
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