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Diageo Strikes $1.2 Bln Deal with United Spirits

Friday, 9 Nov 2012 | 5:40 AM ET

Diageo CEO Paul Walsh tells CNBC the rationale for the deal. "First of all, this company has fabulous brands in the premium spirits category. It also has a very strong route-to-market. It is the leader in the market, and we will have controlling interest."