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Liquor giant Diageo Plc, which endorses brands like Johnnie Walker Scotch, Smirnoff Vodka etc, has

agreed to buy 53.4% stake in Vijay Mallya's United Spirits Ltd (USL) for $2 billion.... This deal eventually combines the World's most valued liquor company with the largest volume player.... Vijay Mallya will remain the Chairman of USL despite of an almost halved stake...Now he owns only 14.9% stakes..... Market analysts are saying that this is a win-win situation for both the two partners.... Vijay Mallya said, "I am not selling my family silver or jewels. I am just embellishing it. I am not here to correct perceptions, but facts will be facts.".... Ivan Menezes, who is the Chief Operating Officer at Diageo said, "India has the potential to become the largest market in the long term," Now this Diageo-USL (247M cases) will be more than double the size of its nearest rival Pernod Ricard (100M cases) by volume globally.... STAY UPDATED :-) :-)