From spirits to simplification: Diageo India to slim down Mallya-era overseas subsidiaries for a better high

Diageo first bought a stake in USL in 2012, taking its holding to a majority by the following year. Mallya stepped down from USL in 2016 and left India that year amid loan repayment troubles at Kingfisher Airlines. At the time, USL had nearly two dozen subsidiaries, joint ventures and associate companies, half of them in the UK, where Mallya has currently exiled himself.