Diageo Plc, the world's biggest spirits maker, will acquire a controlling 53.4 stake in Vijay Mallya-promoted United Spirits for Rs. 11,166 crore (nearly $2 billion), the companies announced in a joint statement. "(I am) happy that the dream has come true…United Spirits will receive a large cash infusion. It will deleverage itself via the cash received and get Rs. 3,300 cr via the deal, and UB Holdings will get Rs. 2,400 crore via the deal, Mr Mallya told NDTV.
