Brand · Industry

King of Good Times to bid adieu to USL

Vijay Mallaya , the erstwhile chairman of United Breweries has decided to call peace with the USL group and sell his entire stake to UK based liquor giant Diaego. The share will be sold at the current price and after the sale , Mallaya will loose his seat from the Board of One of the largest liquor company United Spirtis Limited (USL).

Mallaya was in rough spot in last couple of months because of Fund diversion issue which was raised by Diaego .It is believed that Mallaya would use the funds to repay the creditors of grounded Kingfisher airlines .

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