United Spirits, the flagship spirits firm of UB Group owned by billionaire Vijay Mallya, has said that it has got the required legal approval for merger of Shaw Wallace into United Spirits.
United Spirits during 2005 had acquired its direct competitor Shaw Wallace in a deal valued Rs 1,300 crore.
According to a statement from United Spirits, Shaw Wallace shareholders will get 4 shares of United Spirits for every 17 shares they submit.
