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Vijay Mallya is planning to make a 10% preferential allotment in his flagship company, United Spirits (USL), to the former, says media reports.
According to reports, preferential allotment of 10% will happen before May 26, for which Diageo will be paying Rs 20.94bn.
Diageos move to acquire a further 17.4% stake for Rs 3,632 crore will depend on what the judge at the Karnataka high court (HC) will decide, after hearing winding-up petitions on UB Holdings, report said.
As part of the agreement between Diageo and Mallya in early November 2012, the former was to get 12.8% stake from UBHs holdings in USL.
India Infoline News Service / 08:59, Sep 15, 2014
Many a times parents overlook other goals as they are too busy focusing on just one goal, that is on their child's education. They are too emotionally involved in achieving this particular goal that they forget planning for their retirement and saving for other emergencies.