Dive Brief:
- Diageo lost a major shareholder vote at its United Spirits unit, throwing into question just how the the world's largest distiller can distribute its brands in India, the world's fastest-growing market for whiskey.
- Minority shareholders of United managed to block most of the special resolutions backed by parent Diageo in a special vote aimed at creating a new structure for the businesses.
- Among the more troubling developments: the vote prevents United Spirits from manufacturing or distributing Diageo's other brands.
Dive Insight:
At this point in the long-running and bizarre series of events that make up Diageo's takeover of United Spirits, the folks at Diageo headquarters must be wondering if they will ever actually be able to control United Spirits.
