Heineken UK acquires 3.21% stake in United Breweries
Vijay Mallya-led United Breweries on Wednesday said Heineken UK Ltd has acquired 3.21 percent stake in the company.
New Delhi: Vijay Mallya-led United Breweries on Wednesday said Heineken UK Ltd has acquired 3.21 percent stake in the company.
United Breweries allotted over 84.89 lakh shares, representing 3.21 percent, to Heineken UK Ltd -- a shareholder of Scottish & Newcastle India Pvt Ltd (SNIPL), according to regulatory filing to the BSE.
The acquisition is pursuant to amalgamation of Scottish & Newcastle India with United Breweries, whereby SNIPL would cease to exist.
As per the scheme of amalgamation which came into effect from April 18, SNIPL ceased to hold 3.21 percent in United Breweries.
Specific financial details were not disclosed.
These shares were allotted on May 13 and based on that day's closing price of Rs 748.10 per share, the 3.21 percent stake would be worth about Rs 635 crore.
Heineken UK is part of global liquor maker Heineken.
Shares of United Breweries jumped 3.62 percent to Rs 768 in late afternoon trading on BSE.