SABMiller looking at inorganic growth in India

NEW DELHI: South African's SABMiller today said it was looking at growth opportunties in India, including through acquisitions, amid reports that it is close to acquiring a controlling stake in Indian brewer Mohan Meakin.

"India is an attractive region for SabMiller and keeping this in mind, we have announced a 125 million dollar investment for expansion in the country," a company spokesman said.

However, he refused to confirm that the company was close to acquiring 51 per cent stake in Mohan Meakin, which has popular beer brands like 'Golden Eagle' and 'Black Night'."As a matter of policy, we do not comment on speculations," he said.

SABMiller had recently acquired Foster's business and brand in India for 120-million dollars and is said to have a 40 per cent share of the Indian beer market, behind leader United Breweries, which has about 48 per cent. If it manages to scoop Mohan Meakin's beer business, it is likely to unseat UB from the top spot.