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India Markets Regulator Issues Final Observations on Diageo PLC's Offer For United Spirits Ltd-DJ

Tuesday, 5 Feb 2013 01:02am EST 

Dow Jones reported that India's capital markets regulator has issued its final observations on Diageo PLC's proposed open offer for a 26% stake in United Spirits Ltd. The Securities and Exchange Board of India (SEBI) has issued the observations, but didn't give any details. The open offer was part of Diageo's proposal in November to buy up to a 53.4% stake in United Spirits for up to $2 billion. The deal included purchasing a 27.4% stake from United Breweries Holdings and other founder firms of United Spirits. The draft of the open offer, which is required under local merger and acquisition rules, was submitted to SEBI in November. 

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19 Dec 2014