Heineken Is Likely To Strengthen Position In UBL

The Dutch beer maker Heineken International is said to be taking a majority stake in United Breweries. 6 months prior to this, the court had proposed to freeze Vijay Mallya’s shares in the company. The stock of United Breweries surged 2% at 787 levels, surging more than 15 points from the previous close.

Heineken is expected to buy Mallya’s complete stake in the company.  Vijay Mallya Holds 8.08% stake in the company as of March 2017, out of which 98.11% have been pledged. Mallya holds a total of around 29.99% stake through allied companies in UBL. Heineken International B.V., on the other hand, holds 43.88% of the company as of March 2017.

Heineken is said to purchase stake at a premium and pay the lenders as additional stake would strengthen their ownership in the company.

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About Suhani Varma

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