United Spirits shares soar 35%
Agencies: Mumbai, Nov 12 2012, 11:01 IST
from the UBHL group, the USL Benefit Trust, Palmer Investment Group Ltd and UB Sports Management (two subsidiaries of USL) and SWEW Benefit Company (a company established for the benefit of certain USL employees).
The company will seek approval from USL shareholders for a preferential allotment to Diageo at a price of Rs 1,440 per share of new shares amounting to 10 per cent of the post-issue enlarged share capital of USL.
It further said it will launch a tender offer to acquire a further 26 per cent stake in USL at a price of Rs 1,440 per share.
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