Heineken takes control of United Breweries

Heineken NV announced that it has bought an additional 3,96,44,346 shares in United Breweries.

With this share purchase, Heineken's shareholding in UBL has increased to 61.50% from 46.52%.

On Monday (21 June 2021), the Competition Commission of India approved acquisition of additional equity shareholding by Heineken International B.V. (HIBV) of United Breweries. The proposed transaction relates to HIBV's potential acquisition of additional equity stake up to a maximum of approximately 16.40% shareholding in UBL.

HIBV is an investment holding company and is itself not engaged in any business activity. It is a direct/indirect shareholder for all non-Dutch companies that form part of the Heineken Group. Heineken Group is an international group of companies engaged in the production, manufacture, packaging, distribution, marketing and sale of beer, non-alcoholic beer, cider and cider-based beverages, and a range of other beverages.

United Breweries was down 2.36% at Rs 1422.30 amid heavy volumes.

On the BSE, 3.98 crore shares of the company were traded in the counter so far as compared an average trading volume of 34,565 of the past three months.

On the NSE, 32.31 lakh shares of the company were traded in the counter so far as compared an average trading volume of 6.98 lakh of the past three months.

United Breweries is engaged in the manufacture, sale and distribution of beer in India. Its consolidated net profit soared 133.2% to Rs 97.53 crore on 8.4% rise in net sales to Rs 1,544.64 crore in Q4 FY21 over Q4 FY20.

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