United Spirits approves preferential allotment of shares to Diageo

Last Updated: Mon, May 27, 2013 06:10 hrs

May 27 (Reuters) - India's United Spirits Ltd on Monday approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc, as part of the stake sale deal announced in November.

United Spirits will allot the shares to the Diageo unit at 1,440 rupees a share, the Indian company said in a statement to the Bombay Stock Exchange.

More from Sify: