Diageo takes 53.4% stake in United Spirits for $2.1 bn

The world’s largest spirits maker Diageo has finally entered India, the world’s largest market for whisky, by agreeing to buy 53.4% stake in Vijay Mallya’s United Spirits for R11,166 crore ($2.1 billion). Though Mallya will lose control over the company once the transaction is complete, he will remain its chairman.

Read Full Story>>