Diageo seeks Indian expansion with spirit group purchase
Mallya has been scrambling for a year to raise funds for his ailing Kingfisher Airlines, prompting speculation that he may need to offload stakes in United Spirits, India’s dominant spirits maker, or United Breweries, which makes his flagship Kingfisher beer.
Diageo, the world’s biggest spirits group, has long coveted an expanded presence in India. In 2008, the two sides held talks that collapsed, but sources close to the situation said Diageo is hopeful of a deal this time.
