deal from SEBI with Pioneer Distilleries. The offer would begin on August 28 and end on September 11,2013. According to the offer Diageo will buy up to 2,466,168 equity shares of face value of Rs.10 each at an offer price of Rs.64.02 per equity share.
Hence the UK based Diageo will play a major role in United Spirits Ltd(USL) it was had the stock of 25.02
in United Spirits. As part of the offer United Spirits having 81.58 per cent stocks in Pioneer Distilleries and rest of the stocks would be buy soon in the target company.
This announcement made last year stating that it would pickup 53.4 percent stocks from United Spirits for
total of Rs.11.166.5 crore now it has 25.02 per cent of Rs. 5,235.85 crore. rest of the 26 per cent stock would buy soon.
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