United Spirits falls after court annuls Diageo deal

MUMBAI Mon Dec 23, 2013 4:04pm IST

1 of 2. A man walks past a building in the Diageo Shieldhall facility near Glasgow, Scotland August 26, 2010.

Credit: Reuters/David Moir/Files

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MUMBAI (Reuters) - Shares in United Spirits Ltd(UNSP.NS) closed 3.6 percent lower after a court ordered the annulment of the sale of the Indian spirits maker to British group Diageo(DGE.L).

Karnataka High Court ordered the cancellation of the sale on Friday in response to a petition by creditors of United Breweries Holdings Ltd (UBHL.NS), which sold its stake in United Spirits to the British firm through a complicated share transaction.

United Breweries Holdings ended up 1 percent.

(Reporting by Himank Sharma; Editing by Rafael Nam)

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