News Details
Mallya gets $75 million payout and keeps F1 team
Force India boss and co-owner Vijay Mallya will receive $75 million to walk away from a company. United Spirits, the flagship of the United Breweries company Mallya took over from his late father, will pay the 60-year-old US $75 million to exit after an acrimonious fight with Diageo. Diageo, the alcohol multinational, had fought with Mallya since taking a controlling stake in United Spirits. But Mallya will now receive EUR 40 million immediately and the rest in instalments, while Diageo has agreed to also extended Smirnoff's $15 million per season sponsorship of the Force India team for five more years. 'The time has now come for me to move on and end all the publicised allegations and...
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9y ago from GrandPrix247.com
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