Heineken swigs up controlling stake in Kingfisher-maker United Breweries

The shares were sold by the Debt Recovery Tribunal on Wednesday, on behalf of an SBI-led consortium for around Rs 5,800 crore. “Heineken NV today announces that it has acquired an additional 39,644,946 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent,” Heineken said in a statement.

United Breweries manufactures India’s popular beer brand Kingfisher. It was owned by Vijay Mallya, who is in Britain and considered an economic offender. India has been trying to extradite him over loan dues and fraud. The transaction comes a day after the capital market regulator SEBI on Tuesday exempted Heineken from the obligation of making an open offer for acquiring additional shares in UBL. The Securities and Exchange Board of India had got an application dated June 7 from Heineken International seeking exemption from an open offer for additional UBL shares.