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United Spirits approves preferential allotment of shares to Diageo

United Spirits Ltd on Monday approved the allotment of 14.5 million shares on a preferential basis.

Written by Reuters | Published: May 27, 2013 11:47:47 am

United Spirits Ltd on Monday approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group Diageo Plc,as part of the stake sale deal announced in November.


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United Spirits will allot the shares to the Diageo unit at 1,440 rupees a share,the Indian company said in a statement to the Bombay Stock Exchange.

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