United Spirits approves preferential allotment of shares to Diageo

Last Updated: Mon, May 27, 2013 06:59 hrs

United Spirits 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.

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