United Spirits Limited on Saturday entered into a definitive agreement to sell its entire shareholding in its non-operative subsidiary – Tern Distilleries Private Limited for a consideration of Rs30cr.
With the intention of monetizing its non-core assets the company, the company has executed the agreement of sale with NCL Industries Limited.
Upon completion of the above sale, Tern Distilleries will cease to be a subsidiary of the company.
At around 12.05 pm, United Spirits Ltd was trading at Rs625.80 per piece up by Rs0.5 or 0.08% on the BSE.
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