Diageo buys fresh 26% in USl for Rs 11,449 cr, gains control
Succeeding in its second attempt to gain controlling stake in United Spirits, world’s largest liquor maker Diageo Plc has acquired an additional 26 per cent shares in India’s largest alcoholic beverages company for Rs 11,448.91 crore. UK-based Diageo paid Rs 3,030 for a share of United Spirits ltd (USl), more than double of Rs 1,440 it offered in the previous bid last year. Shares of USl, the flagship company of Vijay Mallya-led UB group, on Wednesday closed at Rs 2,486.55 a share, up 2.93 per cent from its previous close on BSE.
Hero sales up 7.82% in June
Hero MotoCorp on Wednesday reported 7.82 per cent increase in sales at 5,41,594 units in June 2014. It had sold 5,02,279 units in the same month last year, the company said in a statement. During the first quarter ended June 30, 2014, the company sold 17,15,129 units of two-wheelers, an increase of 9.99 per cent compared with 15,59,282 units sold in the corresponding quarter of the previous fiscal, it added.
TVS Motor sales up 23% in June
TVS Motor Company on Wednesday reported 23 per cent jump in total sales at 2,02,177 units in June 2014. It had sold 1,64,128 units in the same month last year, the company said in a statement. Total two-wheeler sales grew by 23 per cent to 1,93,758 units last month as against 1,57,351 units in June last year.
Reliance Capital to sell non-core assets
Reliance Capital on Wednesday said it has begun the process of unlocking value from investments in non-core sectors to focus on its key financial services businesses. The company, which announced the merger of its global film and media business held through Reliance MediaWorks with Prime Focus, said discussions are under way for more such deals outside the financial services segment.