UB Group Chairman Vijay Mallya said in a statement that four global spirits makers including Diageo, the world's largest, evinced interest in acquiring a stake in United Spirits Ltd. or USL, the country's largest liquor manufacturer. UB Group holds around 38% in USL, reports media. Mallya declined to reveal the names of the other three interested parties, as it would be inappropriate to disclose further details at this stage. According to company officials, the group is planning to sell up to 14.9% of a total of 17% of treasury stocks in USL to strategic partners.   more »

Pyramid Saimira Theatre Ltd is in talks for a stake sale in its subsidiaries to raise working capital, a top official said. "We have lost close to 100 crores (1 billion rupees) of cash in some divisions and also because of the general recession in the occupancy rates," Chairman P.S.Saminathan told television channel NDTV Profit. "So we have lost some 100 crores of cash flow which we thought we should replenish.Instead of borrowing more money we have decided to sell off stake in our subsidiaries to put our main company on a growth trajectory," he said. The company is in talks with strategic players for stake sale in two of its foreign subsidiaries and an Indian subsidiary, he said.(Reuters)   more »