date:Feb 07, 2013
Diageos move to snap up a majority stake in Vijay Mallyas United Spirits (USL) has got some extra momentum after the market regulator gave its green light to the formers proposed open offer.
The Securities and Exchange Board of India (Sebi) has cleared the Rs5,441.07 crore open offer by Relay BV, a wholly-owned subsidiary of Diageo, to take up to 26% stake from public shareholders of USL. The regulators website showed Sebi issued its final observations on the open offer on January 31.
The mand