South African Breweries Miller India (SABMiller India) is consolidating its operations in India. In the first phase, two of its group companies, Narang Breweries Ltd and Pals Distilleries Ltd, are being merged into Mysore Breweries Ltd, a 97 per cent SABMiller India subsidiary.
While Narang Breweries is a fully owned subsidiary of SABMiller India, Pals Distilleries Ltd, in turn, is an MBL subsidiary.
In the second phase, the Rajasthan-based Rochees Breweries Ltd (RBL), in which SABMiller India holds 76 per cent at present, will become a subsidiary of MBL. Before that, SABMIller India proposes to take its stake in RBL to above 90 per cent and get the company delisted. To this effect, the company has already announced an open offer for a 25 per cent stake in RBL at Rs 11.75 per share.
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