Jan 16, 2009

Business - UB Group gets nod to amalgamate Shaw Wallace

MUMBAI: Vijay Mallya-promoted United Spirits has said that it has received approval from the High Court at Calcutta for merger of Shaw Wallace &
Company with itself.

In a filing to the Bombay Stock Exchange, UB Group flagship company United Spirits said that the High Court at Calcutta on January 16, 2009 has sanctioned the scheme of merging both the companies.

Earlier, the company had received approval from the Karnataka and Bombay High Courts for the scheme of amalgamation of Shaw Wallace & Company and Primo distributors with the company vide their orders dated May 29, 2008 and July 18, 2008, respectively.

"With this, the company have received all the necessary court approvals", the filing added.

Shaw Wallace, after its acquisition by the UB Group, would now come under a common entity known as United Spirits Ltd, which has 140 brands under its wings out of which, there are 15 millionaire brands growing at a rapid pace.

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