DGE Diageo Plc

By Gurdev Singh Virk

MUMBAI--Diageo PLC's (DGE.LN) open offer to buy an additional 26% of shares in Indian whiskey maker United Spirits Ltd. (532432.BY) has been delayed because the proposed deal has yet to receive local regulatory approval, the manager said Monday.

In a filing to the Bombay stock exchange, JM Financial Institutional Securities Pvt. Ltd. said a new date will be set for the offer, originally scheduled to open today and close Friday of next week.

The deal announced in November involved the British alcohol beverage company first buying a 27.4% stake in United Spirits and then launching a mandatory tender to buy a further 26% owned by public shareholders. The final stake will depend on how many United Spirits shareholders take up the offer of 1,440 rupees a share.

Officials at Diageo did not immediately respond to requests for comment. A spokesperson for United Spirits declined to comment.

Write to Gurdev Singh Virk at Gurdev.Singh@dowjones.com

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