British drinks major Diageo is set to launch its second open offer during mid-June, to acquire a 55% stake in Indian alcoholic beverages company United Spirits (USL).
The deal is expected to cost around INR54.41bn ($931.6m), reports business-standard.com.
The acquisition will take place through the company's wholly-owned indirect subsidiary Relay.
Meanwhile, the company plans to boost its revenues from emerging markets and USL is said to play a major role.
In February this year, Diageo has acquired 2.4% stake in USL, which follows the company's purchase of 14.98% stake in USL in July 2013.
Diageo produces, distills, brews, bottles, packages, and distributes spirits, beer, wine, and ready to drink beverages.
