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Tag Archive: Capital control


The world’s largest spirits company Diageo Plc decided to hike its stake in United Spirits (USL), a company it acquired in 2012 and blogtry to take its stake to 55%.

Diageo has launched an open offer on Tuesday morning to acquire an additional 26% in the company. Currently Diageo holds 29% stake in the company via one of its international arms Relay BV and has been trying to gradually acquire more shares in Vijay Mallya’s flagship distillery from the open market.

The motive of the offer, if successful, aimed at better strategic control, will give Diageo a higher direct ownership in the business. Tender offer in the Indian market is a rare phenomenon comparing to the global markets.  Continue reading

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Cyprus Reaction

There has been a lot of negative comment about the Cyprus deal. That is understandable: you can reasonably argue that imagesit will produce crippling austerity; that it is ridden with moral hazard; that it will create a bank run across most of Southern Europe. But what you can’t argue is that it was unexpected.

Too understand the deal in-case If you are in Cyprus :
* You can put money into your bank, but you can’t get it out again. At least you can, through ATMs, but only in very small amounts.
* If you have money on deposit, you can’t take the money out and close the account. And if it’s a time deposit, when it reaches the end of its life, you can’t have the money to spend. You have to roll it over into a new deposit. Continue reading

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