Heineken buys United Breweries shares for Rs 275 crore

Dutch beer maker Heineken International BV, on Tuesday picked up more than 35 lakh shares of Vijay Mallya-led United Breweries for an estimated Rs 275 crore.

According to the information available with the bourses, Heineken International acquired a total of 35,58,030 shares, amounting to 1.35 per cent stake, of United Breweries through open market route.

The shares were purchased, from Citicorp Finance (India) Ltd on an average price of Rs 772.9, valuing the transaction at Rs 275 crore.

As of September quarter, Heineken International held 4.27 lakh shares, equivalent to 0.16 per cent holding, in United Breweries, while Heineken UK Ltd, held 84.89 lakh scrips, amounting to 3.21 per cent stake, in the Vijay Mallya-led company.

Heineken and UB Group inked an agreement in 2008 and started selling the imported beer in India a year ago.

Earlier in May, United Breweries had allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK Ltd, a shareholder of Scottish and Newcastle India Pvt Ltd (SNIPL).

The acquisition was pursuant to amalgamation of Scottish & Newcastle India with United Breweries, whereby SNIPL would cease to exist.

United Breweries shares settled at Rs 776.25 apiece on the BSE, up 0.67 per cent from the previous close.