Diageo snaps up W&M stake

DIAGEO has paved the way to develop sales in the lucrative Indian spirits market after acquiring a stake in the firm behind Whyte & Mackay.
The drinks giant announced last week that it had agreed a deal to acquire 27.4% of United Spirits Limited, India’s leading spirits company and the owner of the Glasgow-based distiller.
The deal, which will see Formula 1 boss Vijay Mallya continue as USL chairman, was valued at £660 million.