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Post date: 07/07/2015 - 17:19

Heineken snaps up United Spirits' final slice of United Breweries

Heineken has bought United Spirits' remaining stake in India's United Breweries (UB) for INR8.72bn (US$137.2m).

The Dutch brewer, which is already UB's biggest shareholder ahead of Indian entrepreneur Vijay Mallya, increased its ownership of the company from 38.9% to 42.1%. Diageo, which owns 55% of United Spirits, confirmed the sale in a filing on the London stock exchange.

Heineken has bought United Spirits' remaining stake in India's United Breweries (UB) for INR8.72bn (US$137.2m).

The Dutch brewer, which is already UB's biggest shareholder ahead of Indian entrepreneur Vijay Mallya, increased its ownership of the company from 38.9% to 42.1%. Diageo, which owns 55% of United Spirits, confirmed the sale in a filing on the London stock exchange.

A spokesperson for Heineken told that the purchase doesn't change UB's ownership structure.

The move follows Heineken increasing its stake-holding last August, however the company remained silent in January over speculation that it was to increase its stake further.

Heineken inherited an interest in United Breweries when it teamed up with Carlsberg to buy Scottish & Newcastle in 2008.

The original story is here : http://www.just-drinks.com/news/heineken-snaps-up-united-spirits-final-s...