United Spirits plans more acquisitions
United Spirits will explore acquisition opportunities in 2008-09 (Apr-March), and focus on repaying loans that were taken for acquisitions in the current financial year that ends in March, UB Group Chairman Vijay Mallya said. "We will continue to look out for opportunities," Mallya said on the sidelines of the annual general meeting of United Spirits here.
On the timeframe for acquisitions, Mallya said, "(Financial year) 2008 is period of consolidation for UB Group. We have made acquisitions, whether it was Whyte & Mackay or Deccan Aviation. We want to raise capital and pay down all debt in 2008. In (financial year) 2009, we will go aggressively again (onacquisitions)."
In May, United Spirits acquired Glasgow-based Whyte & Mackay.
