Whyte and Mackay Sale

United Spirits limited, the Vijay Mallya owned company may offer a stake of more than 15% to Diageo. Initially Mr. Mallya had offered a 14.9% stake since a purchase of 15% stake automatically triggers an open offer of 20%. USL, has a current debt of USD $1.4 billion with a current leverage of 3, mostly on account of the USD $1.2 billion acquisition of Whyte and Mackay. According to media reports USL is also considering selling off 49% of its stake in Whyte and Mackay, the Scotch whisky Company-PTI