<p>Diageo Plc will launch a mandatory share tender offer to buy up to 26 per cent additional stake in United Spirits Ltd from public shareholders on January 7, the manager to the offer said in a notice to the Bombay Stock Exchange.<br /><br /></p>.<p>Earlier this month, Diageo agreed to buy a majority stake in United Spirits, controlled by businessman Vijay Mallya, for $2.1 billion, fuelling a push by the world's biggest spirits group into fast-growing markets.<br /><br />The tender offer, which is part of the two-tranche deal that will give Diageo a 53.4 percent stake in India's largest spirits company, will close on January 18, JM Financial said in a notice to the exchange on Tuesday.<br /><br />Shares in United Spirits ended up 0.6 per cent at Rs 1,762, higher than Diageo's offer of Rs 1,440 a share to minority shareholders. The sharp jump in the stock has clouded the outcome of the tendering process, analysts said.<br /><br />United Spirits shares have risen more than 30 per cent since the announcement of the deal on November 9.</p>
<p>Diageo Plc will launch a mandatory share tender offer to buy up to 26 per cent additional stake in United Spirits Ltd from public shareholders on January 7, the manager to the offer said in a notice to the Bombay Stock Exchange.<br /><br /></p>.<p>Earlier this month, Diageo agreed to buy a majority stake in United Spirits, controlled by businessman Vijay Mallya, for $2.1 billion, fuelling a push by the world's biggest spirits group into fast-growing markets.<br /><br />The tender offer, which is part of the two-tranche deal that will give Diageo a 53.4 percent stake in India's largest spirits company, will close on January 18, JM Financial said in a notice to the exchange on Tuesday.<br /><br />Shares in United Spirits ended up 0.6 per cent at Rs 1,762, higher than Diageo's offer of Rs 1,440 a share to minority shareholders. The sharp jump in the stock has clouded the outcome of the tendering process, analysts said.<br /><br />United Spirits shares have risen more than 30 per cent since the announcement of the deal on November 9.</p>