UNITED SPIRITS LTD. - Updates on Open Offer

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UNITED SPIRITS LTD. - Updates on Open Offer

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23 Apr 2014
JM Financial Institutional Securities Ltd and HSBC Securities and Capital Markets (India) Private Ltd joint managers to the Offer ("Managers to the Offer") On behalf of Relay B.V. ("Acquirer" / "Relay") together with Diageo plc as the person acting in concert ("PAC" /"Diageo") with the Acquirer has informed this detailed public statement (DPS) to the Public Shareholders of United Spirits Ltd ("Target Company"), in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (the SEBI (SAST) Regulations) and pursuant to the Public Announcement (PA) filed on April 15, 2014 with the BSE Limited (BSE), the National Stock Exchange of India Limited (NSE) and Bangalore Stock Exchange Limited (BgSE, and together with BSE and NSE, the Stock Exchanges), the Securities and Exchange Board of India (SEBI) and the Target Company in terms of Regulations 3(2) of the SEBI (SAST)<br/>Regulations.<br/><br/>The Offer:<br/><br/>This Offer is made to all the equity shareholders of the Target Company other than the promoter and promoter group shareholders (Public Shareholders), to acquire up to 37,785,214 Equity Shares of face value of Rs. 10/- each at an offer price of Rs. 3,030 (Rupees Three Thousand and Thirty only) per share (Offer Price) aggregating to a total consideration of Rs. 114,489,198,420 (Rupees One Hundred Fourteen Billion Four Hundred Eighty Nine Million One Hundred Ninety Eight Thousand Four Hundred Twenty only) payable in cash (Offer Size).<br/><br/>Tentative Schedule of Activity:<br/><br/>Identified Date - May 28, 2014<br/><br/>Date of commencement of the tendering period (Offer Opening Date) - June 11, 2014<br/><br/>Date of closure of the tendering period (Offer Closing Date) - June 24, 2014
View all announcements for UNITED SPIRITS LTD.	Source: BSE India

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