India’s former billion dollar man, Vijay Mallya, sold more of his prized possessions on Wednesday, getting more for his United Spirits beverage company that the market previously thought.
Mallya sold an additional 26% stake in United Spirits — the prime source of his wealth — to U.K. beverage giant Diageo for around $2 billion. Diageo reportedly payed 3,030 rupees ($50.5) per share instead of their original offer of 1,440 rupees. Mallya made an even larger windfall when his shares in United Spirits jumped 2.9% on Wednesday.
The Brits now own 56% of India’s United Spirits, makers of the popular Royal Challenge whisky, for which Mallya’s cricket team, the Bangalore Royal Challengers, is named.
This man needs all the money he can get.
Much of the sale to Diageo is due to Mallya’s debt for his failed Kingfisher Airlines. Mallya just owns under 5% of United Spirits Limited today, and his Kingfisher Airline, named after a beer brand he owns, has been grounded since 2012.
02/07/14 Forbes
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Mallya sold an additional 26% stake in United Spirits — the prime source of his wealth — to U.K. beverage giant Diageo for around $2 billion. Diageo reportedly payed 3,030 rupees ($50.5) per share instead of their original offer of 1,440 rupees. Mallya made an even larger windfall when his shares in United Spirits jumped 2.9% on Wednesday.
The Brits now own 56% of India’s United Spirits, makers of the popular Royal Challenge whisky, for which Mallya’s cricket team, the Bangalore Royal Challengers, is named.
This man needs all the money he can get.
Much of the sale to Diageo is due to Mallya’s debt for his failed Kingfisher Airlines. Mallya just owns under 5% of United Spirits Limited today, and his Kingfisher Airline, named after a beer brand he owns, has been grounded since 2012.
02/07/14 Forbes
