United Spirits to buy JP Impex Incorp's Karnataka-based assets

Tags: Companies
Liquor firm United Spirits has inked a pact to buy JP Impex Incorp's Karnataka-based assets - including plant and machinery - for Rs 11.5 crore, enhancing its liquor manufacturing capacity in the state.

The company has entered into an asset purchase agreement with J P Impex lncorp, a partnership firm, for purchasing the building, plant and machinery, licences, transfer of lease hold rights on the land, all relating to the factory, United Spirits Ltd (USL) said in a filing to the BSE.

"The purchase of the above assets...Would facilitate an increase in the company's licensed Indian Made Foreign Liquor (IMFL) production capacity in Karnataka, which the company proposes to use for Tetra Pak production and availing logistical advantage," it added.

The company, which is now controlled by UK-based Diageo, sells various brands including Signature, Bagpiper, Antiquity and Royal Challenge in the country.

The USL scrip closed at Rs 2,333.10, up 1.67 per cent, on the BSE.

EDITORIAL OF THE DAY

  • But for market intervention, the govt has no business to be in business

    Selling equity in government owned companies has never been a priority for the Narendra Modi: the government has thus far not professed aggressive equ

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust:The mother of all battles

Gassed out after the interminable interplay of the Yadavs in ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...

Anil Dharker

No women, no Cry

EDM, as you would know if you are young, (and ...