Diageo's open offer for United Spirits on Bombay Stock Exchange website
JM Financial Institutional Securities Pvt Ltd ("Manager to the Open Offer") on behalf of Relay B.V. (“Acquirer” / “Relay”) together with Diageo plc (“PAC 1” / “Diageo”), Diageo Finance plc (“PAC 2”/ "Dfin"), Diageo Capital plc (“PAC 3”/ "Dcap") and Tanqueray Gordon and Company Limited (“PAC 4”/ "Tgcl") as the persons acting in concert (“PACs”), has informed this Detailed Public Statement ("DPS") for the attention of the Equity Shareholders of the United Spirits Ltd ("Target Company") in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments there to ("SEBI (SAST) Regulations") as well as pursuant to the Public Announcement ("PA") dated November 09, 2012 with the Stock Exchanges in terms of Regulation 3(1) & 4 of the SEBI (SAST) Regulations.
The Acquirer and the PACs are making this Offer to all the equity shareholders of Target Company other than parties to the Share Purchase Agreement (“SPA”) dated November 9, 2012 entered into between Acquirer and Diageo with the Sellers (as defined below), the Preferential Allotment Agreement (“PAA”) dated November 9, 2012 entered into between Acquirer and Diageo with Target Company and the Shareholders Agreement (“SHA”) dated November 9, 2012 entered into between Acquirer and Diageo with UBHL and KFIL, and persons acting in concert or deemed to act in concert with such parties (“Public Shareholders”), to acquire up to 37,785,214 Equity Shares (“Offer Shares”) of face value of Rs 10/- each at an offer price of Rs 1,440 per share (“Offer Price”) aggregating to Rs 54,410,708,160 (Rupees Fifty four billion four hundred and ten million seven hundred and eight thousand one hundred and sixty only) in cash (“Offer Size”).
Tentative Schedule of The Activity :
Identified Date - December 21, 2012
Date of commencement of the tendering period (Offer Opening Date) - January 7, 2013
Date of closure of the tendering period (Offer Closing Date) - January 18, 2013
# The Identified Date is only for the purpose of determining the Public Shareholders as on such date to whom the Letter of Offer would be mailed. It is clarified that all the Public Shareholders (registered or unregistered) of the Target Company are eligible to participate in this Offer at any time prior to the closure of this Offer.
(For more details kindly refer Corporate Announcements on www.bseindia.com).
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
