Heineken buys United Breweries shares for Rs 275 cr

MUMBAI: Dutch liquor giant Heineken has now emerged as the largest shareholder in United Breweries, surpassing its equal joint venture partner Vijay Mallya. Heineken International bought 35.5 lakh shares, or 1.37% stake, in United Breweries through a bulk deal on Tuesday, taking its total stake to a little less than 39%. Mallya's stake now drops to 37.5%.

The deal was executed at Rs 772.9 apiece valuing the transaction at Rs 275 crore. Citicorp Finance was the seller. Citi is believed to have sold shares pledged with it for a loan of Rs 110 crore taken by the UB group promoters. Lenders have been selling shares in Vijay Mallya-controlled UB group companies including United Spirits, which was taken over by Diageo.