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Radico Khaitan in talks with Diageo to cut JV stake
MUMBAI May 10 (Reuters) - India's second largest liquor manufacturer, Radico Khaitan Ltd (RADC.BO), said on Monday it is 'in talks' with Britan's Diageo Plc (DGE.L) to reduce stake in their joint venture Diageo Radico Distilleries Pvt Ltd.
"Things are moving and at an appropriate time we will discuss it out. At this point of time all I can say is that talks are going on," Dilip.K.Banthiya, chiEf financial officer told Reuters.
The world's largest alcoholic drinks maker and Radico have an equal JV to make and sell liquor products in India. (Reporting by Nandita Bose; Editing by Harish Nambiar)
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