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Diageo to buy 53.4% in Mallya’s United Spirits for Rs 11,166 cr

The world’s largest spirits maker Diageo Plc on Friday announced it will acquire 53.4 per cent stake in United Spirits for Rs. 11,166.5 crore in a multi-structured deal, which may provide Vijay Mallya a breather from troubles emanating from the grounded Kingfisher Airlines.

The report also praises the IT revolution that Bangalore has been able to achieve and calls Hyderabad as the pharmaceutical capital of India. “State of the World’s Cities,” a report by the United Nations Habitat analyses the prosperity of the cities on various counts like productivity, quality of life, infrastructure, environment and equity and on all these five categories, the Indian cities are rated just above Dhaka, Kathmandu and Kampala.

The report, released here on Wednesday, places Mumbai at the 52nd position and New Delhi at 58th among the world cities, though two Chinese cities — Shanghai and Beijing — figure much above.

'Two Indian cities come under the Group 4 and they are in the medium level (of prosperity). Prosperity is not just the economic prosperity, but the kind of infrastructure and the quality of life in the city. Both the cities have been penalized for poor environment conditions, especially New Delhi,” Edvardo Lopez Moreno, chief researcher said. AGENCIES According to State of the World’s Cities report Mumbai and New Delhi are ‘half-way to prosperity’.