JOIN US The US buyout specialist Kohlberg Kravis Roberts (KKR) has joined the race to acquire a minority stake in Vijay Mallya-promoted United Spirits Ltd, says a media report.
“...It has emerged that Kohlberg Kravis Roberts (KKR), the US buyout specialist, has entered the race to buy a minority stake in United Spirits, the parent company through which Mallya owns Whyte & Mackay,” UK’s The Times has reported.
The report published online said that KKR faces competition from the likes of Diageo, the British maker of Guinness stout and Gordon’s gin, for the stake in United Spirits.
Earlier, Mallya had said that four players including Diageo had shown interest in acquiring a minority stake in the UB Group company. United Spirits is the largest liquor manufacturer in India. However, Mallya had declined to divulge the names of other companies, citing confidentiality clause.
In January this year, UB Group had initiated talks with Diageo for selling stake in United Spirits Ltd. Meanwhile, The Times also said that Mallya is looking to take a stake in UK-based Snow Leopard vodka, through Whyte & Mackay.
Mallya had acquired Whyte & Mackay in May 2007 for about 595 million pounds.