Diageo’s USL increases stake in V9 Beverages

Diageo-owned United Spirits Ltd. has announced a strategic expansion of its investment in V9 Beverages Pvt. Ltd., the company behind the zero-alcohol beverage brand, Sober. According to a regulatory filing, the company’s board approved the additional investment at its meeting held on January 20.

Under the approved proposal, United Spirits will invest an additional ₹3.20 crore in V9 Beverages, increasing its shareholding from 15 percent to 25 percent on a fully diluted basis. The investment will be made through the subscription of 1,762 Compulsory Convertible Preference Shares (CCPS) of V9 Beverages for an aggregate consideration of ₹3.20 crore.

The transaction will be executed through cash consideration and is expected to be completed on or before February 20, subject to fulfillment of conditions precedent outlined in the definitive agreements between the parties.