Diageo Plc, the world's largest spirits maker, is exploring options to delist its Indian arm, United Spirits Ltd, by buying out minority shareholders, CNBC TV-18 reported on Monday.
Diageo, the maker of Johnnie Walker whiskey and Tanqueray Gin, currently owns about 56% stake in United Spirits after slowly building it up over several years.
The company has started talks with investment bankers and consultants on a delisting offer, the CNBC TV-18 report said, citing sources familiar with the matter. "The management believes that the current market conditions and the pricing of USL is conducive to a delisting and that's why they are exploring this option," the CNBC report said, citing a senior executive at the company who did not want to be