UK liquor company Diageo Plc on Tuesday bought more than 19 lakh shares of United Spirits (USL) for over Rs 472 crore.
Foreign fund house Morgan Stanley Asia (Singapore) Pte offloaded more than 39 lakh shares of USL worth Rs 943 crore through open market at an average price of Rs 2,406.51.
According to the information available with the bourses, Relay BV, a wholly—owned subsidiary of Diageo - purchased 19,67,940 USL shares. The shares were acquired at Rs 2,400 apiece, valuing the transaction at Rs 472.31 crore.
On November 8, Diageo had announced that it may not be able to fully-acquire the proposed 27.40 per cent stake in USL by the deadline of November 11.
It could purchase only 25.02 per cent stake in USL since the remaining 2.38 per cent shareholding was pledged by the Vijay Mallya company.