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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Agencies
February 7,2020

Sydney, Feb 7: "I received a message from Brett Lee," said former India cricketer Sachin Tendulkar on Friday when asked as to who recruited him to take part in the Bushfire relief fundraiser match.

Tendulkar will be coaching the Ponting XI in the upcoming Bushfire Bash on Sunday, February 9 at the Junction Oval.

"I received a message from Brett Lee. Brett said that Kevin (Roberts, Cricket Australia's chief executive) would like to be in touch with you. It was a no-brainer. From the moment I was asked, I said, 'yes I'm more than happy to come here," cricket.com.au quoted Tendulkar as saying.

Bushfire Bash was originally slated to be played at Sydney on Saturday but weather forecast prompted Cricket Australia to reschedule the game to ensure the best possible pitch and outfield conditions for the final of Big Bash League.

The match will be played to raise funds and all match profits will go to the Australian Red Cross Disaster Relief and Recovery Fund.

"This is an alarming situation, it's catastrophic - that's an understatement. You see the number of lives it has affected, not only humans but also wildlife which sometimes people don't talk about. That is equally important. I'm so happy I'm here in whatever way to support the cause, to raise money," Tendulkar said.

Ponting XI: Matthew Hayden, Justin Langer, Ricky Ponting (c), Elyse Villani, Brian Lara, Phoebe Litchfield, Brad Haddin (wk), Brett Lee, Wasim Akram, Dan Christian, Luke Hodge. Coach: Sachin Tendulkar

Gilchrist XI: Adam Gilchrist (c & wk), Shane Watson, Brad Hodge, Yuvraj Singh, Alex Blackwell, Andrew Symonds, Courtney Walsh, Nick Riewoldt, Peter Siddle, Fawad Ahmed (one more to be announced). Coach: Tim Paine

The Bushfire Bash exhibition match will be a 10-overs-per-side contest, with a five-over Powerplay, no bowling restrictions, and batters unable to get out from the first ball they face.

Bowlers will not have over limits, fielders can sub on and off as it suits, while captains will have the ability to sub batters in and out during an innings.

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News Network
February 18,2020

Berlin, Feb 18: Sachin Tendulkar being lifted on the shoulders of his teammates after their World Cup triumph at home in 2011 has been voted the Laureus best sporting moment in the last 20 years.

With the backing of Indian cricket fans, Tendulkar got the maximum number of votes to emerge winner on Monday.

Tendulkar, competing in his sixth and last World Cup, finally realised his long-term dream when skipper Mahendra Singh Dhoni smacked Sri Lankan pacer Nuwan Kulasekara out of the park for a winning six.

The charged-up Indian cricketers rushed to the ground and soon they lifted Tendulkar on their shoulders and made a lap of honour, a moment etched in the minds of the fans.

Former Australian skipper Steve Waugh handed the trophy to Tendulkar after tennis legend Boris Becker announced the winner at a glittering ceremony.

“It's incredible. The feeling of winning the world cup was beyond what words can express. How many times you get an event happening where there are no mixed opinions. Very rarely the entire country celebrates,” Tendulkar said after receiving the trophy.

“And this is a reminder of how powerful a sport is and what magic it does to our lives. Even now when I watch that it has stayed with me.”

Becker then asked Tendulkar to share the emotions he felt at that time and the Indian legend put in perspective how important it was for him to hold that trophy.

“My journey started in 1983 when I was 10 years old. India had won the World Cup. I did not understand the significance and just because everybody was celebrating, I also joined the party.

“But somewhere I knew something special has happened to the country and I wanted to experience it one day and that's how my journey began.”

“It was the proudest moment of my life, holding that trophy which I chased for 22 years but I never lost hope. I was merely lifting that trophy on behalf of my countrymen.”

The 46-year-old Tendulkar, the highest run-getter in the cricket world, said holding the Laureus trophy has also given him great honour.

He also shared the impact the revolutionary South African leader Nelson Mandela had on him. He met him when he was just 19 years old.

“His hardship did not affect his leadership. Out of many messages he left, the most important I felt was that sport has got the power to unite everyone.

"Today, sitting in this room with so many athletes, some of them did not have everything but they made the best of everything they had. I thank them for inspiring youngsters to pick a sport of their choice and chase their dreams. This trophy belongs to all of us, it's not just about me.”

In a tweet on Tuesday, Tendulkar dedicated the award to his country, teammates and fans.

"Thank you all for the overwhelming love and support! I dedicate this @LaureusSport award to India, all my teammates, fans and well wishers in India and across the world who have always supported Indian cricket," he tweeted.

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Agencies
July 8,2020

Kolkata, Jul 8: Legendary Indian batsman Sachin Tendulkar led the wishes for former India captain and current President of the Board of Control for Cricket India (BCCI) Sourav Ganguly who turned 48 on Wednesday.

Touted to be one of the best captains the country has ever produced, Ganguly is widely credited for making India an aggressive side and instilling belief in the team that they could win overseas conditions as well.

Happy birthday Dadi!
Hope our off-field partnership keeps going strong like our on-field ones. Wish you a blessed year ahead. pic.twitter.com/jOmq9XN07w

— Sachin Tendulkar (@sachin_rt) July 8, 2020
Tendulkar was among the first ones to extend birthday wishes to his former opening partner. "Happy birthday Dadi! Hope our off-field partnership keeps going strong like our on-field ones. Wish you a blessed year ahead," Tendulkar said on Twitter.

"Many more happy returns of the day Sourav Ganguly. May you taste ever more success and receive more and more love. Have a great day and year ahead #HappyBirthdayDada," said renowned Indian batsman VVS Laxman.

Many more happy returns of the day @SGanguly99 . May you taste ever more success and receive more and more love. Have a great day and year ahead #HappyBirthdayDada pic.twitter.com/j53UUDerJE

— VVS Laxman (@VVSLaxman281) July 8, 2020
Former cricketer Mohammad Kaif wrote: "From a fine batsman to an outstanding captain & now leading Indian cricket on the whole—here's wishing my favourite captain & mentor Sourav Ganguly a very happy birthday. But FAULADI SEENA dikha ke aise kaun chadhta hai (who climbs up like this after showing a chest of steel), Dada #HappyBirthdayDada."

From a fine batsman to an outstanding captain & now leading Indian cricket on the whole—here’s wishing my favourite captain & mentor @SGanguly99 a very happy birthday. But FAULADI SEENA dikha ke aise kaun chadhta hai, Dada #HappyBirthdayDada pic.twitter.com/8PKZ3RwwtB

— Mohammad Kaif (@MohammadKaif) July 8, 2020
"Wishing a very happy birthday to the most dynamic and visionary captain of his time. It's a matter of immense pleasure to work with the man who took Indian cricket to new heights. Subho Janmodin Sourav Ganguly," tweeted BCCI Secretary Jay Shah.

"Leader of Men. God of off-side. Fighter. Happy Birthday, Dada. #HappyBirthdayDada," said commentator and former cricketer Aakash Chopra.

Leader of Men.
God of off-side.
Fighter.
Happy Birthday, Dada. #HappyBirthdayDada pic.twitter.com/PJcy0xwgyb

— Aakash Chopra (@cricketaakash) July 8, 2020
"Happy birthday dada! From a great captain to a brilliant administrator, you have donned them magnificently. Hope you continue your good work for the betterment of Indian cricket... Godspeed. Sourav Ganguly #HappyBirthdayDada," tweeted another former cricketer Pragyan Ojha.

Putting out various important achievements of Ganguly, the International Cricket Council (ICC) on their official Twitter handle wrote: "Third-fastest to 10,000 ODI runs. Holds the record for the highest individual score in CWC for India. 2003 ICC World Cup runner-up. Captained India to 11 wins in 28 overseas Tests. Happy birthday to one of India's most successful captains, Sourav Ganguly."

Ganguly played 113 Tests and 311 One Day Internationals in which he scored 7,212 and 11,363 runs respectively.

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