Report: Behemoths Battle Over USL

Japanese spirits group Suntory is reportedly interested in buying a 10-15% stake in Vijay Mallya’s United Spirits for $600 million, according to an article in the Economic Times. Other media reports claim the 15% stake is worth about $430 million at market value. The paper also said India-based USL is in talks with Pernod Ricard, Bacardi and Diageo for a stake in the company. If someone were to acquire USL, the world’s third largest spirits marketer by volume, it could