united-breweries-group-acquires-whyte--mackay

United Breweries Group acquires Whyte & Mackay

IndiaÆs United Breweries Group will buy the Scotch whisky business for $1.18 billion, raising part of the finance by leveraging the target's inventories.
IndiaÆs liquor baron Vijay Mallya, via his group company United Spirits, has sealed a deal to acquire ScotlandÆs Whyte Mackay for ú595 million $1.18 billion. The acquisition is driven by the potential for the targetÆs brands in India, a country where a history of Scotch whisky drinking and rising prosperity levels are driving up demand.

Mallya has conducted the acquisition through his company United Spirits, a part of the United Breweries UB Group. Mallya, who is chairman of UB Group, intends to become chairman and CEO of Whyte Mackay.

Whyte Mackay was bought by Vivian Immerman, his brother-in-law Robert Tchenguiz and a consortium of banks in 2001 for an estimated ú208 million. Then Immerman...
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