United Spirits to buy JP Impex Incorp's Karnataka-based assets
Jul 14 2014 , New Delhi
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.