New Delhi : Up against a regulatory hurdle in the UK over the $2 billion takeover by global liquor giant Diageo, United Spirits’ board approved a plan to sell Whyte & Mackay Ltd (W&M), an indirect wholly-owned arm of the company.
“The board proposes to initiate a process, based on the outline timetable provided under UK law in connection with the decision of the Office of Fair Trading, to explore a potential sale of W&M,” United Spirits Ltd said in a filing to the BSE.
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