Shivanand Shankar Manekar HUF buys over 1 lk USL shares

Shivanand Shankar Manekar HUF buys over 1 lk USL shares Mumbai: Shivanand Shankar Manekar HUF on Monday acquired 1.45 lakh shares of United Spirits from Om Kedar Investments in a deal worth nearly Rs 22 crore.

As per the block deal data available with the National Stock Exchange, Shivanand Shankar Manekar HUF bought 1.45 lakh shares of the Vijay Mallya group firm at an average price of Rs 1,540 apiece, valuing the deal at Rs 22.3 crore.

Last week, spirits maker Diageo Plc had announced that it would buy 53.4 percent stake in United Spirits for Rs 11,166.5 crore in a multi-structured deal.

UK-based Diageo had said that it would acquire 27.4 percent stake in USL at Rs 1,440 per share aggregating to Rs 5,725.4 crore.

Further, Diageo will also acquire 19.3 percent stake in USL at a price of Rs 1,440 apiece from the UBHL group, the USL Benefit Trust, Palmer Investment Group Ltd and UB Sports Management (two subsidiaries of USL) and SWEW Benefit Company (a company established for the benefit of certain USL employees).

Shares of United Spirits settled 34.93 percent higher at Rs 1,834.60 apiece on the BSE.

PTI