United Spirits jumps 8% on Whyte and Mackay buyout

MUMBAI: Vijay Mallya-led United Spirits today surged over eight per cent on the bourses on the acquisition of Scottish whiskey maker Whyte and Mackay.

The scrip touched an intra-day high of Rs 906 jumping up over eight per cent on the Bombay Stock Exchange (BSE).

It ended at Rs 895.20, up 6.88 per cent, as a total of 2.70 lakh equity shares changed hands on the BSE.

United Spirits today announced that it has acquired Whyte and Mackay for 595 million pounds (nearly Rs 4,819 crore).

With the acquisition, the company is looking forward to exporting brands from India and have access to global distribution.

United Spirits would have consolidated sales of 75 million cases per annum after the acquisition, a company filing to the stock exchanges said.

Shares fo United Breweries, a group firm, also jumped up five per cent to end at Rs 297.10 after touching an intra-day high of Rs 334.