United Spirits Limited

Type: Company
Name: United Spirits Limited
First reported 13 hours ago - Updated 4 hours ago - 7 reports

10/2/2014: Business: Vijay Mallya has to clear loan defaults to serve as USL chairman: Diageo

BANGALORE: Loan default cases against Vijay Mallya and his UB Group may cast a shadow over his continuation as chairman of United Spirits Ltd (USL) in the future, with its current parent, UK-based Diageo, making it clear in a statement from its... ... [Published Hindustan Times - 4 hours ago]
First reported Sep 30 2014 - Updated 18 hours ago - 9 reports

Vijay Mallya re-elected as United Spirits chairman

Vijay Mallya has been re-elected as chairman of United Spirits despite previous recommendations of shareholder advisory firms.Vijay Mallya has bee re-elected as chairman of Indian drinks group United SpiritsUK drinks group Diageo – which acquired a 55% ... [Published The Spirits Business - 18 hours ago]
First reported Oct 01 2014 - Updated Oct 01 2014 - 1 reports

Top corporate news of the day - October 01, 2014

Despite rise in input costs and higher duty on import of coking coal, JSW Steel Limited announced cut in the prices of steel products for the month of October. The company has cut Rs500-750 per tonne for flat products and Rs1000 per tonne for long products. ... [Published India Infoline - Oct 01 2014]
First reported Oct 01 2014 - Updated Oct 01 2014 - 1 reports

Opening Bell 1 October | Markets likely to stay flat ahead of spate of holidays

A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/MintMumbai: Asian markets were trading mostly higher after the official government index of Chinese manufacturing held steady in September at 51.1, slightly surpassing economists’ expec ... [Published Livemint.com - Oct 01 2014]
First reported Sep 30 2014 - Updated Sep 30 2014 - 1 reports

Top corporate news of the day - September 30, 2014

Strides Arcolab has said that it has entered into an agreement with GMS Holdings. Jordan-based GMS will invest US$21.9mn for a 25.1% stake in Stelis Biopharma, the biotech arm of Strides, to fund its greenfield project. (BS)United Spirits has decided ... [Published India Infoline - Sep 30 2014]
First reported Sep 29 2014 - Updated Sep 29 2014 - 1 reports

ABD to launch premium whisky brand next year

Kishore Chhabria-promoted Allied Blenders & Distillers (ADB) is set to take on premium Indian whisky brands such as Blenders Pride and Signature with a new product, expected to hit the market early next year. The product, to be launched in Delhi and Kolkata ... [Published Business Standard India - Sep 29 2014]
First reported Sep 29 2014 - Updated Sep 29 2014 - 1 reports

Menezes to review USL operations

In his first official visit after Diageo acquired 54 per cent stake for Rs 18,000 crore, Ivan Menezes, the India-born global chief executive officer of Diageo will review strategy of USL. He, along with few key global executive members of Diageo, are ... [Published Business Standard India - Sep 29 2014]
First reported Sep 27 2014 - Updated Sep 27 2014 - 1 reports

Hundred 100 billion dollar men in India

:13:42 A A- A+ Mukesh Ambani (L) with Prince Charles when the British crown prince visited New Delhi recentlyEach of the top 100 earners of India is a billion dollar man. According to an Indian private TV channel, for the first time each of the top ... [Published Financial Express Bangladesh - Sep 27 2014]
First reported Sep 26 2014 - Updated Sep 26 2014 - 1 reports

S&P upgrade rescues Sensex, Nifty

It was a day of wild gyrations as indices managed to register smart gains after three consecutive days of losses. Markets were so volatile that the Nifty swung over 150 points between intra-day highs and lows. Sentiment got a sudden boost after the S&P ... [Published India Infoline - Sep 26 2014]
First reported Sep 25 2014 - Updated Sep 25 2014 - 2 reports

SBI in focus after board OKs stock split

State Bank of India (SBI) said that the central board of the bank at its meeting held on Wednesday, 24 September 2014, approved a 10-for-1 stock split.Shares of Jaiprakash Power Ventures (JPVL) and Reliance Power (RPower) will be watched after RPower ... [Published Business Standard India - Sep 25 2014]
First reported Sep 21 2014 - Updated Sep 22 2014 - 10 reports

United Spirits to trim stake in Pioneer Distilleries

Diageo ( DEO -0.5% ) announces that its United Spirits subsidiary will sell off an 11.4% stake in Pioneer Distilleries through an open offer process. The company was forced to make the move after failing to hit a 90% ownership threshold which would ... [Published Seeking Alpha - Sep 22 2014]
First reported Sep 04 2014 - Updated Sep 05 2014 - 15 reports

Brokers slash United Spirits EPS targets post Q4 write offs

Leading brokerages has cut their earnings estimates for United Spirits after the liquor major Thursday reported a record loss of Rs 5380 crore for the March quarter due to write-offs and provisions.The company had to make provisions of around Rs 1000 ... [Published Moneycontrol.com - Sep 05 2014]

Quotes

...Shriram Subramanian, MD, InGovern Research Services, a proxy advisory firm, said, "The best case scenario for Diageo is Mallya not continuing in the relationship. Now that's not easy, and hence Diageo is now sending out a clear message."
"Diageo's contractual obligations to support Mallya continuing as non-executive director and chairman of USL are subject to these conditions as well as the absence of certain defaults by UBHL or Mallya" it said
"The composition of the USL board following the annual general meeting reflects this change" it said
Mallya also sought to assuage the fears that there aren't any differences between UB Group and Diageo, which has a 54 per cent stake in USL. "An inquiry has been constituted to assess on how USL can get back the Rs 600 crore lent to business associates of USL. A fair inquiry will be conducted into that aspect" said Mallya...

More Content

All (461) | News (448) | Reports (0) | Blogs (10) | Audio/Video (0) | Fact Sheets (3) | Press Releases (0)
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10/2/2014: Business: Vijay Mallya has to clear ... [Published Hindustan Times - 4 hours ago]
Mallya's chairmanship of USL subject to caveats... [Published Times of India - 6 hours ago]
Vijay Mallya has to clear loan defaults to serv... [Published Hindustan Times - 7 hours ago]
Exclusive: Despite China’s Struggles, World’s T... [Published Shanken News Daily - 9 hours ago]
Vijay Mallya re-appointed chairman of USL [Published Drinks Business - 10 hours ago]
Diageo reduces board rights of Mallya in USL [Published Business Standard India - 11 hours ago]
Ex-Billionaire Vijay Mallya Kept On As Chairman... [Published Forbes.com - 11 hours ago]
Mallya re-appointed as USL chairman [Published The Hindu - 11 hours ago]
London-based Diageo moves to curtail Mallya’s c... [Published Hindu Business Line - 13 hours ago]
Vijay Mallya re-elected as United Spirits chairman [Published The Spirits Business - 18 hours ago]
Vijay Mallya Gets Shareholders’ Nod to Continue... [Published IndiaVision - 19 hours ago]
Diageo says UBHL can't nominate independent dir... [Published BusinessWeek - 20 hours ago]
Mallya gets shareholders' nod to continue as US... [Published Business Standard India - 21 hours ago]
Diageo says UBHL can’t nominate independent dir... [Published Livemint.com - 22 hours ago]
USL Annual General Meeting: Board Appointments [Published TrustNet - 23 hours ago]
Top corporate news of the day - October 01, 2014 [Published India Infoline - Oct 01 2014]
Opening Bell 1 October | Markets likely to stay... [Published Livemint.com - Oct 01 2014]
10/1/2014: Htbusiness: Shareholders vote to ret... [Published Hindustan Times - Oct 01 2014]
Mallya may be re-elected USL chief [Published Deccan Herald - Oct 01 2014]
Wilful defaulter issue misplaced, says Mallya [Published Business Standard India - Sep 30 2014]
Vijay Mallya likely to be re-elected as United ... [Published Livemint.com - Sep 30 2014]
Shareholders re-elect Mallya as chairman of Uni... [Published Hindu Business Line - Sep 30 2014]
Vijay Mallya re-elected as USL chairman [Published Times of India - Sep 30 2014]
The Johnnie Walker approach to content: Diageo'... [Published Campaign Asia-Pacific - Sep 30 2014]
Top corporate news of the day - September 30, 2014 [Published India Infoline - Sep 30 2014]
ABD to launch premium whisky brand next year [Published Business Standard India - Sep 29 2014]
Menezes to review USL operations [Published Business Standard India - Sep 29 2014]
USL further rearranges financial house [Published Business Standard India - Sep 29 2014]
Mallya flouting company law in seeking USL boar... [Published Business Standard India - Sep 29 2014]
End Of The Road For Vijay Mallya? [Published Businessworld India - Sep 29 2014]
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The (early) Lunch Wrap [Published FT Alphaville - Jun 20 2014]
TSB shares jump 10 per cent in trading debut ||Diageo poised to take control of India’s United Spirits||Allied Minds prices IPO, valuing intellectual property investor at £398m||Siemens and Mitsubishi raise stakes in Alstom bid battle||Westfield’s A$70bn ...
Emperador Confirms Deal to Buy Whisky Maker Why... [Published WSJ.com: India Real Time - May 12 2014]
Emperador Inc. said Monday it agreed to acquire whisky maker Whyte & Mackay Group Ltd. from India's United Spirits Ltd. for £430 million ($726 million) in cash, a deal that dovetails with the Philippine liquor producer's plan to expand its global foo ...
United Spirits to Sell Whyte & Mackay Whiskey [Published DealBook - May 09 2014]
India's largest distiller will sell its Whyte & MacKay whiskey business to Emperador of the Philippines in a deal that values the business at 430 million pounds, or about $726.5 million. ...
Will Diageo’s Second Attempt to Buy United Spir... [Published WSJ.com: India Real Time - Apr 16 2014]
Will U.K. liquor giant Diageo PLC have better luck with its a second attempt to buy a majority stake in India’s United Spirits Ltd.? ...
Top India Stories From WSJ: Diageo Makes $1.9 B... [Published WSJ.com: India Real Time - Apr 16 2014]
Your daily round-up of the best of The Wall Street Journal’s India coverage: Diageo Makes $1.9 Billion Offer For Control of India's United Spirits :  Diageo PLC Tuesday made a $1.9 billion offer to take control of India's United Spirits Ltd., the latest ...
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