UB Group on Wednesday claimed it was confident of the USL-Diageo deal going through, regardless of the lenders’ action on USL?s pledged shares. Diageo?s open offer to the public shareholders of USL is set to be launched on April 10.
Both the company and the bankers told FE the sale of pledged shares isn’t likely to affect the deal as it is linked to only the Kingfisher debt default involving 2.6 million USL shares. ?Whatever (shares) is required to be sold to Diageo will be transferred to them and totally unencumbered,? a UB company official told FE.
