Global drinks maker Diageo Plc is interested in buying nearly 10 – 13 percent stake in Vijay Mallya’s United Spirits Limited. As per the reports from Indian Newspaper Economic Times, Diageo may spend around $600 million to buy upto 13% stake in USL. United Spirits has been ranked number three in the world in terms of volume.

Diageo is not looking at management control or a place in the Board room yet. Diageo Plc finds Indian company as an interesting buy at current valuations. Diageo controls many famous brand like Smirnoff Vodka and Guinness Beer.

Diageo CEO Paul Walsh has been seen meeting Mr. Vijay Mallya on many occasions. This could be start of a new partnership for Mr. Mallya.

Asif Adil, MD for Indian unit of Daigeo has declined to comment on the rumor. Representative of United Spirits Limited has denied any talks with Diageo regarding the stake sale.