India: Vijay Mallya’s arrest in London sends United Breweries and United Spirits shares down

United Breweries and United Spirits slip nearly 3 percent on April 18 after liquor baron Vijay Mallya has been arrested in London, according to CNN-News18.

Vijay Mallya holds 7.9 percent stake of 52.84 lakh shares in United Breweries and about 12,510 share in United Spirits as of latest shareholding pattern.

United Spirits closed 2.07 percent lower at Rs 1885.10 on the NSE while United Breweries plunged 2.5 percent to Rs 731.75.

Mallya will now be presented before the Westminster Magistration court. The Central Bureau of Investigation (CBI) from India will put in a request to extradite Mallya to India.

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