Platinum hikes UB Holdings stake to 11%
Australian fund manager Platinum Investment Management Ltd has increased its stake in United Breweries Holdings Ltd, the investment arm of Vijay Mallya’s UB group, to a tad under 11%. The fund reportedly mopped up the shares from the open market. Platinum Investment manages close to $14.55 billion through various investment vehicles.
The stake hike comes close on the heels of the UB group’s decision to call off talks with Diageo and a clutch of private equity majors to offload shares in flagship United Spirits Ltd to raise over $300 million and mitigate its overwhelming debt burden. United Spirits has a total debt of over Rs 6,500 crore on its books.
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The stake hike comes close on the heels of the UB group’s decision to call off talks with Diageo and a clutch of private equity majors to offload shares in flagship United Spirits Ltd to raise over $300 million and mitigate its overwhelming debt burden. United Spirits has a total debt of over Rs 6,500 crore on its books.
To read the full article, click here...
To read the ePaper, visit: http://epaper.financialexpress.com
posted by PressMart Team at
10:46 AM
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