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Diageo plans to pick up stake in USL this week: reports

India Infoline News Service | Mumbai | November 07, 2012 10:23 IST

Reports stated that Under the takeover code, any entity buying a 25% stake in a company is required to make an open offer.

Diageo Plc of the UK is planning to acquire 51% stake in Vijay Mallya-promoted United Spirits Ltd (USL) this week, according to reports.

Reports stated that Under the takeover code, any entity buying a 25% stake in a company is required to make an open offer.

The deal size is likely to be about $2 bn (around Rs.108.20bn), says reports.

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