This represents 26% of USL’s fully diluted issued share capital as at 15 April 2014. The Tender Offer will be at a price of INR 3,030 per share and the total consideration for the increased stake (assuming take-up in full at the announced price) will be INR 114,489,198,420.
Diageo has launched the Tender Offer through Relay BV, a wholly owned indirect subsidiary of Diageo. Relay currently holds 28.78% of the issued share capital of USL, acquired for a total investment of INR 65,742,163,642 (£726,550,972).
USL is the leading spirits producer in India.
Source: Diageo
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