Millennium Post
Business

Diageo buys 19 lakh USL shares for Rs 472 crore

World's largest spirits maker Diageo Plc, which is in the process of acquiring majority stake in United Spirits Limited (USL), on Tuesday picked up more than 19 lakh shares of the Vijay Mallya-led distiller for over Rs 472 crore.

Meanwhile, foreign fund house Morgan Stanley Asia (Singapore) Pte offloaded more than 39 lakh shares of United Spirits worth Rs 943 crore through open market at an average price of Rs 2,406.51. According to the information available with the bourses, Relay BV, a wholly-owned subsidiary of Diageo, purchased 19,67,940 USL shares. The shares were acquired at Rs 2,400 apiece, valuing the transaction at Rs 472.31 crore.
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