United Breweries up 5% on Heineken deal

MUMBAI: Shares of United Breweries were in demand Tuesday amid media reports that the company will market Heineken brands in the country.

According to reports, the company has reached a deal to bottle and distribute Heineken brands, for which it will get a one time fee of Rs 300 crore after settling differences over the role of Heineken in United Breweries.

The deal will see UB adding two premium beers, Heineken and Tiger, to its portfolio and will help Mallya weather increasing competition from international beer makers, the paper said.

At 10:30 am, the company���s shares surged 5.27 per cent to Rs 122.85 on the BSE.