| Largest M&A by an Indian firm, to be complete by January-end.
|
| |
| The Vijay Mallya-controlled United Breweries group is close to acquiring Glasgow-based distillers Whyte & Mackay for nearly £500 million (Rs 4,350 crore) by the end of this month.
|
|
nbsp; |
This will be the largest buyout by an Indian company abroad, pipping Dr Reddy’s Laboratories’ acquisition of Betapharm last year for ¤480 million (Rs 2,736 crore).
| TOP FIVE OVERSEAS BUYOUTS BY INDIAN FIRMS |
| Tata Tea |
Energy Brands Inc |
$677 million |
| Dr Reddy's |
Betapharma |
$577 million |
| Suzlon Energy |
Eva Holdings |
$570 million |
| Tata Steel |
Natsteel |
$486 million |
| Tata Tea |
Tetley |
$407 million |
|
| |
| Sources close to the deal said United Spirits, a part of the group flagship United Breweries, might be the investment vehicle for the acquisition of Whyte & Mackay.
|
| |
| Advisers of both the companies were adding final touches to the deal with Citigroup advising Whyte & Mackay and UBS advising United Spirits.
|
| |
| The broad contours of the agreement suggest that the strike price represents a premium on an estimated £475 million bid in November, which was rejected by Whyte & Mackay’s South African-born owners, Vivien Imerman and his brother-in-law Robert Tchenguiz.
|
| |
| Employees of Whyte & Mackay were informed to expect a new owner by the end of the month. Mallya is expected to retain the services of Whyte &Mackay group managing director Bob Brannan.
|
| |
| Whyte & Mackay’s brands include Whyte & Mackay blended Scotch whisky, Dalmore single malt whisky and Vladivar vodka.
|
| |
| Once signed, this acquisition will be close on United Breweries’ attempt to acquire Taittinger, the world’s sixth largest champagne company, for £400 million.
|
| |
| United Breweries was founded by a Scotsman who merged four breweries in India in 1915, which was later acquired by the Mallya family.
|
| |
| This company is now the vehicle for the takeover of an established Scottish spirits group.
|
| |
| This acquisition will mark the end of any significant whisky group other than Edrington, owner of Famous Grouse, Macallan and Highland Park, being controlled from a Scottish headquarters |
