Diageo Said to Be in Advanced Talks for United Spirits Stake

Diageo Plc, the world’s biggest distiller, is in advanced talks to buy a stake in billionaire Vijay Mallya’s United Spirits Ltd., four people with knowledge of the matter said.

The two companies may announce a deal by next month, said one of the people, who asked not to be identified as the talks are confidential. Mallya, who owns 28 percent of India’s second-largest maker of alcoholic beverages by market value, will remain a United Spirits shareholder, the people said.