United Spirits of India has hired three banks to oversee the sale of its Scotch Whisky producer, Whyte & Mackay. Those who know estimate the sale could fetch £450 million
Investment banks Rothschild, Rabobank and Standard Chartered have been appointed to handle the sale.
The sale is taking place in order to appease concerns raised by the UK competition regulators after the drinks giant Diageo bought 28.8 % controlling stake in United Spirits last July.
It appears that there is keen interest with potential buyers including private equity firms and drinks companies. It is believed that Pernod Ricard, Remy Cointreau and Campari might be interested buyers.