Heineken ups stake in United Breweries; buys shares worth Rs 39 crore

NEW DELHI: Heineken International BV, the maker of Heineken beer, has increased its stake in United Breweries as it bought shares worth Rs 39.48 crore in the company through an open market transaction today.
According to block deals data available with BSE, Heineken International bought 4,25,000 shares, or 0.15 per cent stake, in UBL for Rs 39.48 crore.

The shares were bought from Yes Bank at an average price of Rs 951.50 apiece.

United Breweries Ltd (UBL), India's largest brewer, makes Kingfisher Beer.

As on September 30, Heineken held 42.07 per cent stake in UBL through three companies - Heineken International B V, Heineken UK Ltd and Scottish & Newscastle India Ltd.

While Scottish & Newscastle India Ltd held 34.04 per cent stake in the firm, Heineken International B V held 4.82 per cent and Heineken UK Ltd held 3.21 per cent.

Heineken had indirectly acquired 37.5 per cent stake in UBL following its worldwide takeover of Scottish & Newcastle (S&N) in January, 2008. Following the deal, Heineken has been raising stake in UBL through open market transactions.