Shares of United Spirits Ltd. won over plans to sell popular brands.

“On February 23, 2021, we began a strategic review of selected popular brands. This review is ongoing and is considering all options to achieve sustainable long-term profitable growth,” the Indian arm of Diageo Plc said in a statement to the stock markets on Tuesday. “The review is expected to be completed by March 31, 2022.”

Inbrew Beverages is emerging as the lead bidder for USL’s portfolio of low-margin brands such as Bagpiper whiskey, White Mischief vodka and Haywards, Bloomberg reported, citing people familiar with the matter. The assets are estimated at $300 million. Inbrew’s portfolio includes the Indian beer brand Thunderbolt and rights to brands such as Millers, Blue Moon, Carling and Cobra.

Shares of United Spirits rose a whopping 3.6% over the course of the day on Wednesday, the most in four days.


This post United Spirits share price rises as Inbrew becomes the best bidder for its cheaper brands was original published at “https://www.bloombergquint.com/business/united-spirits-shares-jump-as-inbrew-emerges-top-bidder-for-its-popular-brands”

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