United Spirits (USL) is all set to sell entire stake in Whyte & Mackay Group, a manufacturer of whisky, to the Philippines-based brandy manufacturer Emperador Inc for around Rs 4,345 crore.
The board of USL has already given nod to sell the entire issued share capital of Whyte & Mackay Group to Emperador UK, a subsidiary of Emperador, a unit of Alliance Global, the world’s largest maker of brandy.
United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
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Monday, 12 May 2014
United Spirits to sell entire stake in Whyte & Mackay
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