Vijay Mallya's United Breweries sells 3.21% stake to Heineken UK

United BreweriesUnited Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK. (Reuters)

Vijay Mallya-led United Breweries today said Heineken UK Ltd has acquired 3.21 per cent stake in the company.

United Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK Ltd -- a shareholder of Scottish & Newcastle India Pvt Ltd (SNIPL), according to regulatory filing to the BSE.

The acquisition is pursuant to amalgamation of Scottish & Newcastle India with United Breweries, whereby SNIPL would cease to exist.

As per the scheme of amalgamation which came into effect from April 18, SNIPL ceased to hold 3.21 per cent in United Breweries.

Specific financial details were not disclosed.

These shares were allotted on May 13 and based on that day's closing price of Rs 748.10 per share, the 3.21 per cent stake would be worth about Rs 635 crore.

Heineken UK is part of global liquor maker Heineken.

Shares of United Breweries jumped 3.62 per cent to Rs 768 in late afternoon trading on BSE.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus