Mallya pledges more from United Breweries

UB Group chairman Vijay Mallya has pledged another portion of his holding in his beer company, United Breweries.

Kamsco Industries, a UB group company, has said it pledged 2.9 million share of United Breweries, maker of the country’s largest selling Kingfisher beer.

Mallya, who along with Dutch brewer Heineken held a 37.5 per cent stake each in United Breweries at the fag end of last year, saw his holding drop to 35.2 per cent as one of the lenders offloaded a part of the pledged stake to Heineken.

That increased the Dutch brewer’s stake to 38.7 per cent.

Of Mallya’s holding of 35.2 per cent in United Breweries, as much as 31 per cent has been pledged, even as he tries to clear a slew of suits from the lenders of his Kingfisher Airlines.