NSE Approves United Spirits Proposal To Sell Distillery


News: The National Stock Exchange of India (NSE) has approved the proposal of the Indian spirits producer United Spirits (USL) to sell its distillery in the Indian state of Tamil Nadu to Enrica Enterprises. The company must file the transaction with the High Court for further clearance within the next six months, as the no-objection approval will be valid for this period. The USL's board has already given its go-ahead to the proposal for selling the distillery to Enrica through a Scheme of Arrangement as well as franchising of its brands in Tamil Nadu during November 2013, reports Press Trust of India.

This article is tagged to:
Sector: Food & Drink
Geography: India