An advance of a little over Rs 1,350 crore (Rs 13.5 billion) to UB Holdings, the holding company of Vijay Mallya’s UB Group, from United Spirits, which presumably went to Kingfisher Airlines, has come to haunt United Spirits, India’s largest spirits company in which Diageo has strategic management control. In a disclosure to the markets, United Spirits has said it is awaiting information from UB Holdings for determining the treatment in the company’s accounts of the loan ... Rediff.com, 1 month ago
Mallya's stake in Kingfisher Airlines drops below 10% - Rediff.com, 1 month ago
Kingfisher Airlines' lenders look to sell USL shares - Rediff.com, 1 month ago
Vijay Mallya, chairman of the UB Group, might see his stake fall below five per cent in his erstwhile flagship company, United Spirits, as lenders continue to invoke pledged shares. In a regulatory disclosure, lenders to the UB Group said they’d invoked 2.23 million shares in the past week, translating into stake worth 1.53 per cent. With the market price at an average of Rs 2,700 a share last week when the shares were invoked, these were worth around Rs 600 crore (Rs 6 billion). As a ...Rediff.com, 1 month ago Mallya to remain chairman of MCF board even after sell off Rediff.com, 2 months ago
The once-upon-a-time king of good times still behaves like one. Look at Vijay Mallya’s television interviews every time Royal Challengers Bangalore wins a match in the ongoing Indian Premier League. But the apparent exuberance cannot hide the hard reality that the king has little control over his once-empire. Mallya, who inherited the scattered liquor business of father Vittal Mallya at 27, painstakingly built it into a Rs 19,000-crore (Rs 190 billion) empire. But the irony is that the ...Rediff.com, 2 months ago
Diageo-controlled United Spirits Ltd (USL) on Friday said it would sell Whyte & Mackay Group, a manufacturer of whisky, to the Philippines-based brandy manufacturer Emperador Inc for £430 million (Rs 4,345 crore). The board of USL, at a meeting here on Friday, decided to sell the entire issued share capital of Whyte & Mackay Group to Emperador UK, a subsidiary of Emperador, a unit of Alliance Global, the world’s largest maker of brandy. The Vijay Mallya-led USL had bought ...Rediff.com, 2 months ago
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