Diageo nabs control of United Spirits

|About: Diageo plc (DEO)|By:, SA News Editor

Diageo (DEO) accumulates just over 55% of United Spirits through an open tender offer.

The company has been fighting for years to gain a majority stake in the Indian beverage concern.

What to watch: By nabbing control of United Spirits' distribution network in India, Diageo can look to increase sales of premium brands Johnnie Walker and Smirnoff.