Shares of UB group firms, led by UBHL (United Breweries Holdings Ltd.), on Tuesday, surged as much as 20 per cent after United Spirits (USL) said the U.K.-based Diageo Plc was in talks to buy stake in the Vijay Mallya-owned firm.
Group holding firm UBHL scrip ended the day at Rs.132.45, up 19.97 per cent, while United Spirits soared 8.89 per cent to close at Rs.1,147.70 on the BSE.
Among others, shares of McDowell Holdings climbed 9.95 per cent, United Breweries scrip 7.02 per cent and Mangalore Chemicals and Fertilizers 12.34 per cent. Besides, Kingfisher Airlines surged 8.08 per cent and UB Engineering shot-up by 15.70 per cent.
“United Spirits and Diageo Plc confirm that the U.K.-based company is in discussion with it and United Breweries Holdings in respect of possible transactions to acquire an interest in the liquor firm,” United Spirits said in a BSE filing. It added, “However, there is no certainty that these discussions will lead to a transaction”.
The UB group is the promoter of USL with a 28 per cent stake.