Dutch brewing giant Heineken is understood to be in various stages of discussion with UB Group chairman Vijay Mallya to gain more control over India's largest brewer, United Breweries. Mallya, during the past two days, had ceded a marginal stake in it, allowing Heineken to be the single largest shareholder. It is understood that lenders to the UB Group, which hold shares of UBL as pledged securities, are looking to encash these, as the UB Group has been facing difficult times in repaying debt, ... Rediff.com, 1 week ago
Heineken takes a bigger swig of UB - Rediff.com, 1 week ago
About a year after Kingfisher Airlines shut shop, the only one still confident of a revival of the airline is Chairman Vijay Mallya. Just two months ago, the flamboyant promoter of Kingfisher Airlines and the UB group announced he was in talks with an investor to sell the airline. He had given a deadline of 90 days for the sale. But as days pass, few share Mallya’s optimism. Slowly, Indian banks are realising they aren’t left with much, in terms of their loans to the airline.Rediff.com, 1 week ago
Less than three weeks after admitting a petition to wind up UB Holdings Ltd, the Karnataka high court has admitted a similar petition against another UB Group company, Kingfisher Airlines, pushing Chairman Vijay Mallya further into a corner in the fight to get him to repay the airline’s massive debt to creditors.The move also invalidates, albeit temporarily, Mallya’s repeated assurances to the court and the public of a revival plan for the carrier.On Friday, the court admitted a ...Rediff.com, 2 weeks ago
Diageo may have got FMCG veteran Anand Kripalu to run United Spirits and appointed 3 directors on its board, but the road ahead is strewn with problems Diageo, the global spirits major, is on a high. Soon after acquiring strategic management control of Vijay Mallya’s crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market. It has appointed FMCG veteran Anand Kripalu as chief executive officer designate and ...Rediff.com, 2 months ago
Rivals in July, friends in October. That seems the next twist in the race between the promoters of Deepak Fertilisers and Petrochemicals and Zuari Fertilisers & Chemicals, for controlling Vijay Mallya’s Mangalore Chemicals and Fertilizers. Pune-based Deepak’s Sailesh Mehta might hold a meeting next week with Zuari’s Saroj Poddar to make an offer to buy out the latter’s stake in MCF. This would be the first time that the suitors would meet on a deal that could ...Rediff.com, 2 months ago
Domestic air fares might fall with the new airline venture of Tata Sons and Singapore Airlines. These fares had risen 20-25 per cent after the exit of Vijay Mallya’s Kingfisher Airlines last October. At its peak, Kingfisher had nearly 30 per cent of overall capacity in the market. With the launch of Tata AirAsia and Tata-SIA, the added capacity will bring down fares considerably, say observers. Sharat Dhall, president, Yatra.com, said: “The aviation market in India is ...Rediff.com, 2 months ago
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