Diageo not only suitor for Kingfisher Airlines: Mallya

Vijay Mallya, Chairman of the UB Group, speaking on the group search for a strategic partner for Kingfisher Airlines, said he is in discussion with more than one suitor and that Diageo is one on them. He said it is premature to speculate on the timeframe of the deal.
Mallya added he has already signed a confidentiality agreement and is in talks with a PE investor for raising USD 400 million for Kingfisher Airlines. He said negotiations with PE investor can continue regardless of FIPB approvals.
"I am in conversation with more than one suitor. Diageo is a fine company with an excellent portfolio of global brands. We are in active discussion. But I think it is rather premature to speculate on a potential deal either in terms of timeframe––will it or won’t it happen?," Vijay Mallya said.
26/02/09 CNBC-TV18

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Categories: Foreign Feb 2009, kingfisher Feb 2009