LONDON, March 25, 2026, 13:22 GMT
Diageo shares rose as much as 2.4% in early London trading on Wednesday after its Indian unit agreed to sell the cricket franchise Royal Challengers Bengaluru for 166.6 billion rupees ($1.8 billion), a deal that could free up cash for debt reduction. 1
The timing matters. Last month Chief Executive Dave Lewis cut Diageo’s fiscal 2026 sales outlook, halved the half-year dividend and said net debt stood at $21.7 billion as the company grappled with weak U.S. demand and continued softness in China. Reuters reported the group was running above its target debt-to-earnings range. 2
United Spirits said it would sell its 100% stake in Royal Challengers Sports to a consortium of Aditya…