Open offer for United Spirit's to begin on April 10

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, April 5, 2013, 12:37 [IST]

The open offer by Diageo to buy a 26 per cent stake in United Spirits will commence on April 10, 2013 and end on April 23.

JM Financials one of the lead managers to the issue in a notice to the Bombay Stock Exchange said that the price for the tender offer to United Spirits shareholders will remain at Rs 1,440 a share.

Shares of United Spirits were trading at Rs 1771, down 2 per cent on the Bombay Stock Exchange at 12.30 pm IST.

It may be recalled that recently the Reserve Bank of India had approved the acquisition of United Spirits-Diageo deal. Earlier, the deal had had received the consent from the Competition Commission of India and SEBI.

Diageo is the world's leading premium drinks manufacturer.

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