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Transaction Reports united Spirits
Diageo buys a stake in united Spirits for over $2 billion
Diageo plc, United Breweries (Holdings) Limited and United Spirits Limited have recently announced agreements under which Diageo will acquire a 27.4% stake in USL, the leading spirits company in India. The consideration will be INR 1440 per share and the total consideration would be INR 57,254 million (approximately £660 million). Following completion of these agreements, Dr Vijay Mallya will continue in his current
role as Chairman of USL, and UBHL and Dr Mallya will work with Diageo to build the USL business as the current consumer trends for premiumisation accelerate in India.
Diageo and Dr Mallya entered into a memorandum of understanding under which they will form a 50:50 joint venture that will own United National Breweries’ traditional sorghum beer business in South Africa.
Diageo buys a stake in united Spirits for over $2 billion
Legal advisors to United Spirits:
Legal advisors to Diageo:
Platinum Partners Financial advisors to Diageo:
YES Network
News Corporation to acquire stake in YES Network
News Corporation and Yankee Global Enterprises recently announced an agreement that calls for News Corporation to acquire a 49% equity stake in the Yankees Entertainment and Sports Network (YES). The YES Network delivers exclusive live local television coverage of New York Yankees baseball and Brooklyn Nets basketball, as well as other leading local and national sports-related programming.
The current owners: Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership in connection with this transaction. After three years, News Corporation may acquire an additional stake in the YES Network that could bring its ownership to 80%, at which time Yankee Global Enterprises would retain a significant minority stake in the network.
Since its inception in 2002, YES has grown its footprint to include local availability in New York, Connecticut, New Jersey, and parts of Pennsylvania, as well as national availability on several cable and satellite television distributors. The network currently showcases live Yankees and Nets games to approximately 9 million households in the teams' television territory in the New York area. Outside of the New York area, the YES Network also distributes a variety of national programming to millions of homes across the country.
News Corps Deputy Chief Operating Officer, James Murdoch said “The YES Network represents the gold standard for regional sports networks and is a pioneer in sports media. We look forward to working with Yankee Global Enterprises, the network's management team, and all of our partners to build on a decade of success and take the YES Network to even greater heights”
News Corporation to acquire stake in YES Network Legal advisor to YES Network:
Lead Counsel to the New York Yankees and Yankee Global Enterprises:
Legal advisors to News Corporation:
Financial advisor to Goldman Sachs:
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These announcements appears as a matter of record only