Diageo revenue to flow in from October: Vijay Mallya

Sep 24, 2013, 01.55 PM IST

Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits, India's largest distiller, to Diageo.

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Diageo revenue to flow in from October: Vijay Mallya

Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits, India's largest distiller, to Diageo.

Like this story, share it with millions of investors on M3

Diageo revenue to flow in from October: Vijay Mallya

Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits, India's largest distiller, to Diageo.

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Liquor baron Vijay Mallya says the consumer franchise for United Spirits Limted  (USL) remains very strong, adding that the integration with Diageo will be done in phases. He expects revenues from Diageo to flow in from October. "The board will consider Anand Kripalu's name for USL MD post," he told shareholders at the USL annual general meeting (AGM). 

Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits, India's largest distiller, to Diageo.

Mallya says Diageo will sell USL brands in emerging markets. Also, former Diageo CEO Paul Walsh has joined the USL board. HDFC managing director Renu Sud Karnad has joined the USL board as a director.

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