Slaughter & May Reps Diageo In $2B Indian Liquor Biz Buy

Law360, New York (November 9, 2012, 12:42 PM EST) -- Global beverage business Diageo PLC will swallow up a controlling stake in India’s biggest spirits company, the two said Friday, in a £1.3 billion ($2.1 billion) deal that comes with a strong foothold in the high-growth Asian marketplace.

Under the proposed terms, Diageo would initially take a 27.4 percent interest in United Spirits Ltd. from the company’s founders, then pick up an additional 26 percent stake from other shareholders through a mandatory tender offer expected in the first part of 2013.

In both buys, Diageo will...
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