United Breweries Group, Kingfisher lenders in talks to cut debt

UB Group, the parent of debt-laden Kingfisher Airlines, said it was in talks with the lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company, United Spirits, to Diageo Plc. The statement comes days after lenders to Kingfisher said they would move ahead towards recovering $1.4 billion of loans in default after the company failed to come up with a viable funding plan. UK drinks group...