Mallya-promoted United Spirits had last week acquired the Scottish whisky company, making the UB Group the second largest liquor company in the world.
MUMBAI: Liquor giant UB Group on Monday said it might enlist the newly-acquired Scottish whisky maker, Whyte & Mackay on the London Stock Exchange (LSE).
"This (the listing on the LSE) can happen," company Chairman Vijay Mallya told reporters here when asked whether he was planning to enlist the company on the stock exchange to raise funds.
He, however, did not give any time-frame.
Mallya-promoted United Spirits had last week acquired Scottish whisky company Whyte & Mackay for Rs 4,819 crore, making the UB Group the second largest liquor company in the world.
He added that Whyte & Mackay would remain a 100 per cent subsidiary of the UB Group and he has no plans to change the management.
"We should allow it to operate on its own and I don't see any change required in the current management," Mallya said.
Mallya said that the acquisition of Whyte and Mackay was required to make scotch whisky available in India, China and the Gulf.
Mallya said that the acquisition would be financed through loans from ICICI Bank ($325 million), Citibank ($310 million) and through sale of United Spirits treasury stocks.
"We will pay it off prematurely," Mallya said. He had earlier stated that the earnings of Whyte and Mackay would cover the cost of acquisition in the near future.
Whyte and Mackay's annual operating income is now approximately 50 million pounds and expected to grow at 20 per cent per annum.
Mallya said the capacity of Whyte and Mackay would be increased, but did not give further details.
United Spirits was the third largest liquor company in the world before this acquisition, with a sale of 66.4 million cases of spirits in 2006-07.
Now it will add another 9 million cases. The combined capacity of the company would increase to 75.4 million cases per annum, making the UB Group the second largest company in the world.
He had also earlier that Whyte & Mackay has 140 brands, some of them are dormant, which could be revived.
Whyte & Mackay brands include The Dalmore, Isle of Jura, Glayva, Fettercairn, Vladivar vodka and scotch whisky brands such as Mackinlays, John Bar, Cluny and Claymore.
The Glasgow-based company has four malt whisky distilleries in Scotland.
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