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Posted on Nov 09, 11:49AM | IBNS
The world's largest producer of spirits, Diageo, has reached a deal for a stake in Vijay Mallya-owned United Spirits Ltd after months of talks, reports said.
The deal is worth close to a billion dollars and an announcement to this effect is expected on Friday.
However, Mallya will continue as chairman of United Spirits Limited.
Diageo and United Spirits have a combined market value of USD 3.2 billion.