Diageo (DEO) has gained control of United Spirits by acquiring a 14.98% stake in the Indian company from businessman Vijay Mallya for 31.3B rupees ($521M). While the purchase takes Diageo's stake to just 25.02%, voting and other governance arrangements with Mallya enable the U.K. firm to have control. The deal gives Diageo the leading position in the largest whiskey market in the world.
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