Some of world’s leading alcohol beverage firms are vying for a stake in the United Spirits, an arm of Rs 3200 crore UB group. The largest spirits firm of the world, Diageo is one of the major contender.

The chairman of the UB group Vijay Mallya disclosed that his firm is in touch with three global firms on the stake issue in the United Spirits. He said that his firm has a large network in India and global firms wanted to enter in the fast growing and lucrative Indian market through UB group.

Vijay Mallaya has 13.7 million shares in treasury stock in the group and he wants strategic partnership with other firms to expand the business. The current shares price of United Spirits stands at Rs 1340 per share with a total worth valuation of over Rs1,800 crores. The promoters of the group hold 37 per cent shares. The company is also planning new beverage units in Andhra Pradesh and Karnataka.