<P> The company launched McDowell's No. 1 whisky in 1968, and commissioned new distilleries in Hyderabad, Ponda (Goa), and Hathidah (Bihar) over the next few years . In the late 1970s, distilleries were acquired in Udaipur, Alwar, Mirganj, and Serampore, and a plant was built in Pondicherry . The company bought out Herbertsons in 1973 . Mallya's son, Vijay Mallya, took over as director of McDowell's the same year, and assumed chairmanship of UB Group and McDowell's after Vittal Mallya died in 1983 . McDowell's moved its headquarters from Madras to Bangalore in 1987 . The company established a technical centre for product and process development research in Bangalore in 1989 . McDowell's No. 1 Rum was launched in 1990 . McDowell's acquired the spirits business and manufacturing facility of Forbes Campbell & Company Limited . McDowell's formed United Distillers India Limited, India's first joint venture in the alcoholic beverages industry, with United Distillers of the United Kingdom in 1991--92 . McDowell's Signature whisky was launched in 1994 . In 1995, Carew Phipson Limited, Consolidated Distilleries Ltd and several other companies were merged into McDowell's . The company was incorporated as McDowell Sprits Ltd in 1999 . The name was changed to McDowell & Company Ltd on 1 April 2000 . McDowell Alcobev became a wholly owned subsidiary of McDowell & Company in 2002 . In the same year, the company acquired Phipson Distilley, McDowell International Brands Ltd, and most of Triumph Distilleries & Vinters Pvt Ltd . McDowell launched Derby Special Whisky in 2003 and Old Cask rum in 2004 . </P> <P> On 21 March 2005, McDowell & Company entered into an agreement with Jumbo World Holdings Limited (JWHL) in Dubai to acquire Shaw Wallace . The board of Shaw Wallace approved the merger of the company with USL and fixed the appointed date of the merger as 1 April 2008 subject to approvals . In 2006, McDowell & Co Limited, Herbertsons Limited, Triumph Distillers and Vintners Private Limited, Baramati Grape Industries India Limited, Shaw Wallace Distilleries Limited and four other companies are merged to form United Spirits Limited . Bouvet Ladubay, subsidiary of France - based Taittinger was acquired, the same year . The UB Group purchased Whyte & Mackay in May 2007 for £ 595 million . USL also acquired Liquidity Inc., makers of Pinky Vodka, in 2007 . USL launched Black Dog 18 YO and Four Seasons Barrique Reserve in 2009--10, and McDowell's No 1 Platinum, 100% grain based whisky, in 2011 . </P> <P> On 27 May 2013, Diageo acquired a 10% stake in United Spirits at a cost of ₹ 20,927,196,000 (US $310 million). It also separately acquired an additional 58,668 shares for ₹ 85,778,082 . On 4 July 2013, Diageo bought an additional 14.98% of the company for ₹ 31.35 billion (US $470 million). Diageo acquired an additional 21.77 million shares at a cost of ₹ 1,440 (US $21) per share in an off - market - deal from United Spirits' promoters, raising its holdings to 25.02 per cent of the company . Following that purchase, Diageo held 36.3 million shares in USL, acquired at a cost of ₹ 52,358.5 million (US $780 million), making it the largest shareholder . Under pressure from Diageo, some substantial changes to the management structure of the firm began to take place in 2013 . </P> <P> In 2014, Diageo's share holdings rose to 54.8% of USL . </P>

Who is the owner of united spirits limited