Nov 25, 2013, 08.19 PM IST
Diageo and USL are present in the blended whiskey segment, and Whyte & Mackay has its own label of blended whiskey segment.
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Sell majority of Whyte & MacKay, UK regulator tells Diageo
Diageo and USL are present in the blended whiskey segment, and Whyte & Mackay has its own label of blended whiskey segment.
Like this story, share it with millions of investors on M3
Sell majority of Whyte & MacKay, UK regulator tells Diageo
Diageo and USL are present in the blended whiskey segment, and Whyte & Mackay has its own label of blended whiskey segment.
Essentially, United Spirits Limited (USL) and Diageo had been asked to sell majority of their Whyte & Mackay business aside from two distilleries. Now, considering the fact that this deal violates competition norms, they have suspended the transfer of this particular deal case to the Competition Commission and will now be considering a revised offer from Diageo, which has already been submitted to sell most of the Whyte & Mackay business.
Both the companies - Diageo and USL are present in the blended whiskey segment, and Whyte & Mackay has its own label of blended whiskey segment.
Also read: Won't shy away from exiting non-profitable ventures: Diageo
Basically, the OFT investigation was trying to understand whether this would lead to a substantial lessening in the competition and they did understand that it would bring down the competition significantly.
The next case was to understand if manufacturers could handle this and their investigations clearly showed that other manufacturers could not offset the losses.
Chris Walters, the chief economist in this particular case has said that both the companies are leading suppliers of blended bottle whiskey in the UK and the investigation suggests that it will bring down competition significantly. Most importantly, it would lead to higher prices for retailers and ultimately the consumers. Therefore, higher pricing is what really led for OFT to take this decision.
The timeline as to when the revised offer will be considered is not yet known but clearly this will delay the whole process. And Diageo will now have to sell a majority of Whyte & Mackay with the exception of two distilleries as reported earlier.
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