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Diageo-United Spirits deal announcement likely today

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.