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Heineken picks up stake In United Breweries

Picks up 8.5 million shares amounting to 3.2% stake in the Indian liquor maker

BS Reporter  |  Mumbai 

UK Limited has picked up 8.48 million shares of United Breweries, or 3.21 per cent in the company.

The shares were allotted on May 13, according to an exchange notification.

The allotment is ‘pursuant to the Scheme of Amalgamation of Scottish & Newcastle India Private Limited(SNIPL) with sanctioned by the High Court of Bombay and High Court of Karnataka dated 2 November 2012 and 17 January 2013 respectively,’ said the notification.

Scottish & Newcastle held these shares earlier. Subsequently, the company was amalgamated with when filed the order of the Karnataka High Court with the Registrar of in Karnataka on 18th April.

United Breweries then allotted the shares that SNIPL held to its shareholder, i.e. UK. These shares were allotted against 32.22 million shares that held in SNIPL.

The Heineken Group holds 37.5% equity shares in United Breweries Ltd, according to the company’s website.

The stock was up 4.13 per cent, trading at Rs.771.75 at the time of writing.

United Breweries which is involved in the manufacturing and marketing a number of beverages including the Kingfisher brand of beer; had entered into a strategic alliance with Scottish and Newcastle in 2006.

First Published: Wed, May 15 2013. 12:01 IST