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EXCLUSIVE – Diageo Claim Force India F1 Team Ownership
Diageo, parent company of Johnnie Walker, in its 2015 annual report has documented an ongoing debt dispute with Dr Vijay Mallya within which the Force India F1 team has been listed as a collateral asset valued in the region of £81 Million. It is not clear if this valuation represents the 57.5% ownership Dr Vijay Mallya holds or if it is the entire team. The dispute, documented below, relates to debts made apparent through due diligence carried out by Diageo subsequent to their taking ownership of Dr Vijay Mallya’s United Breweries Limited (UBL) in 2013. Diageo are seeking to recover the value of these debts from Dr Vijay Mallya. In June this year a court ruled in favour of Diageo...
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