Diageo plc has launched a tender offer to acquire up to 26 percent of USL, spirits producer in India.
The tender offer will be at INR3,030 (USD50.2) per share or approximately INR 114.4 billion (USD1.8 billion).
After completion of the sale, Diageo, through its wholly-owned indirect subsidiary, Relay B.V., will will hold 54.78 percent of USL’s issued share capital and will have paid approximately INR180.2 billion (USD2.9 billion)for its total shareholding in USL.
Diageo is a global company, with its products sold in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE).