Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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News Network
February 21,2020

New Delhi, Feb 21: Vinesh Phogat yet again fell to Japanese nemesis Mayu Muakida to go out of the gold medal race but Sakshi Malik will fight for the title after winning her semifinal bout at the Asian Wrestling Championship, here on Friday.

Vinesh had lost twice to Mukaida in 2019 – at World Championship and Asian Championships —and the trend continued as the gritty Indian yet again struggled to break the strong defence of the Japanese.

In a tough opening round, Vinesh tried single leg attacks a number of times but every time Mukaida blocked her move and eventually got the upper body lock to subdue the home favourite.

In her last two meetings, Vinesh had not scored a single point against the 2019 world silver medallist. She managed a takedown this time before eventually losing 2-6.

The hard-working Vinesh will now fight for bronze against Vietnam's Thi Ly Kieu but even a medal won't suffice to lift her mood as she and the fans have high expectations from her.

Rio Olympic bronze medallist Sakshi Malik, who has been struggling of late, lost her opening round 1-2 to Naomi Ruike from Japan but later overcame two weak opponents to eventually reach the final of the non-Olympic 65kg category.

She could hardly attack Naomi but outplayed Korea's Ohyoung Ha in the next round, winning by technical superiority.

In her semifinal against Uzbekistan's Nabira Esenbaeva, Sakshi led 5-0 but her rival pulled off consecutive two-point moves to make it 5-4.

Sakshi has been losing in closing stages of late but this time she managed to hold on to her narrow lead, surviving anxious last two seconds.

Also in medal contention are India's brightest youngsters Sonam Malik (62kg) and Anshu Malik (57kg).

Sonam, who had defeated Sakshi in the trials, showed good tactical mind in her resounding win against Korea's Hanbit Lee and also in the 2-5 defeat against world bronze medallist Yukako Kawai.

She pulled off a superb point-scoring move from a disadvantageous position and resisted the 2018 U-23 world champion Yukako in a good fashion.

She will now fight for bronze against Aisuluu Tynbekova.

Anshu Malik opened up her campaign against Kyrgyzstan's Nuraida Anarkulova, winning by technical superiority but was outplayed by reigning world champion from Japan Riskao Kawai.

She will have to beat Sevara Eshmuratova from Uzbekistan to grab a bronze.

In the non-olympic 72kg, Gursharanpreet Kaur is in bronze medal contention. She beat Uzbekistan's Svetlana Oknazarova but lost to Kazakhstan's Zhamila Bakberzenova.

She still made it to the semifinal in which she lost to Japan's Mei Shindo.

She is now up against Mongloia's Tsevegmed Enkhbayar.

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Agencies
January 9,2020

Kuala Lumpur, Jan 9: BWF World Championships defending champion PV Sindhu on Thursday cruised to the quarterfinals of the ongoing Malaysia Masters after winning a second-round match.

The 24-year-old had the upper hand in the clash and thrashed Japan's Aya Ohori in straight games 21-10, 21-15 that lasted for 34-minute. The world number six will now play in her quarterfinal match on January 10.

Earlier in the day, Saina Nehwal defeated South Korea's An Se Young 25-23, 21-12 in 38 minutes. The first game saw back and forth action between both shuttlers. In the end, Nehwal kept her cool to win the match.

On Wednesday, the 29-year-old had outclassed Belgium's Lianne Tan 21-15, 21-17 to progress to the pre-quarterfinals.

Shuttlers Parupalli Kashyap and Kidambi Srikanth crashed out of the tournament after losing their matches to Japan's Kento Momota and Chou Tien Chen of Chinese Taipei respectively. 

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News Network
July 20,2020

The International Cricket Council (ICC) today confirmed the ICC Men’s T20 World Cup in Australia 2020 has been postponed due to the ongoing COVID-19 pandemic

At today’s meeting of the IBC Board (the commercial subsidiary of the ICC), windows for the next three ICC men’s events were also agreed to bring clarity to the calendar and give the sport the best possible opportunity over the next three years to recover from the disruption caused by COVID-19.

The windows for the Men’s events are:

1. ICC Men’s T20 World Cup 2021 will be held October – November 2021 with the final on 14 November 2021

2. ICC Men’s T20 World Cup 2022 will be held October – November 2022 with the final on 13 November 2022

3. ICC Men’s Cricket World Cup 2023 will be held in India October – November 2023 with the final on 26 November 2023

The IBC Board agreed to continue to monitor the rapidly changing situation and assess all the information available in order to make a considered decision on future hosts to ensure the sport is able to stage safe and successful global events in 2021 and 2022.

The IBC Board will also continue to evaluate the situation in relation to being able to stage the ICC Women’s Cricket World Cup 2021 in New Zealand in February next year. In the meantime, planning for this event continues as scheduled.

The Board will also continue to evaluate the situation in relation to being able to stage the ICC Women’s Cricket World Cup 2021.

ICC Chief Executive Manu Sawhney said: “We have undertaken a comprehensive and complex contingency planning exercise and through this process, our number one priority has been to protect the health and safety of everyone involved in the sport.

“The decision to postpone the ICC Men’s T20 World Cup was taken after careful consideration of all of the options available to us and gives us the best possible opportunity of delivering two safe and successful T20 World Cups for fans around the world.

“Our Members now have the clarity they need around event windows to enable them to reschedule lost bilateral and domestic cricket. Moving the Men’s Cricket World Cup to a later window is a critical element of this and gives us a better chance of maintaining the integrity of the qualification process. This additional time will be used to reschedule games that might be lost because of the pandemic ensuring qualification can be decided on the field of play.

“Throughout this process we have worked closely with our key stakeholders including governments, Members, broadcasters, partners and medical experts to enable us to reach a collective decision for the good of the game and our fans. I would like to thank everyone involved for their commitment to a safe return to cricket.”

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