Diageo further increases shareholding in United Spirits Limited
Today, Diageo acquired a further 5,075,000 shares (approximately 0.70% shareholding) in United Spirits Limited (“USL”) at a per share price of INR693.25. The shares were purchased on the National Stock Exchange of India and take Diageo’s controlling shareholding position to 55.9% of USL.
India remains one of the most exciting growth markets in the world for total beverage alcohol. This transaction forms part of Diageo’s long-term strategy of premiumisation within the market. During the first half of fiscal 2020, the "Prestige and Above" segment in India grew by 5%, driven by Johnnie Walker and Black & White.