Scotch-Indian

News today that an Indian is ready to take over a Scottish drinks icon...(by the way he is the second alcoholic drinks magnate in India to also own an airline, Kingfisher being the other...it has never seemed a great combination to me, drink and flying!)

Indian eyes Scottish whisky giant
An Indian businessman could be the owner of one of the UK's most famous whisky firm within two weeks, according to press reports. Vijay Mallya has been linked with Glasgow-based Whyte & Mackay since last year but is set to clinch a deal, the Hindustan Times says. Mr Mallya's UB Group is reportedly scrutinising the firm's books ahead of a £550m takeover. Whyte & Mackay's brands include the Jura and Dalmore single malt whiskies. It also owns the Vladivar Vodka and Glayva liqueur and Kingfisher beer labels. Mr Mallya also owns an airline and a fashion label.

Whyte and Mackay said in October 2006 that it had received an unsolicited offer from UB Group. Now the Indian newspaper says a deal is believed to have been agreed and that "the formalities would be completed within a fortnight". P.A. Murali, chief financial officer of UB Spirits confirmed that the process of looking at Whyte and Mackay's books, known as due diligence, is underway. But he said it would be "speculative" to comment on when an agreement would be signed. UB Group dominates the Indian spirits market, which is the world's largest for whisky. But Scotch whisky has only a 1% foothold in the Indian market, because of the tariffs imposed by national and state governments there.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/business/6381339.stm
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