Diageo Increases its Shareholding in USL

Diageo acquired a further 3,310,515 shares (approximately 0.46 percent shareholding) in United Spirits Limited (“USL”) at a per share price of Rs.591.95. The shares were purchased on the Bombay Stock Exchange and this purchase takes Diageo’s controlling shareholding position to 55.2 percent of USL.

USL is a highly strategic asset for Diageo and this acquisition positions Diageo well to capitalise on opportunities within India. During Diageo’s fiscal 2019, USL’s organic net sales increased by 8 percent, with growth from the “Prestige and Above” segment up by 12 percent; led by double digit growth in Scotch.