Vijay Mallya's United Breweries sells 3.21% stake to Heineken UK

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United Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK. (Reuters) United Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK. (Reuters)
SummaryUnited Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK.

Vijay Mallya-led United Breweries today said Heineken UK Ltd has acquired 3.21 per cent stake in the company.

United Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken UK Ltd -- a shareholder of Scottish & Newcastle India Pvt Ltd (SNIPL), according to regulatory filing to the BSE.

The acquisition is pursuant to amalgamation of Scottish & Newcastle India with United Breweries, whereby SNIPL would cease to exist.

As per the scheme of amalgamation which came into effect from April 18, SNIPL ceased to hold 3.21 per cent in United Breweries.

Specific financial details were not disclosed.

These shares were allotted on May 13 and based on that day's closing price of Rs 748.10 per share, the 3.21 per cent stake would be worth about Rs 635 crore.

Heineken UK is part of global liquor maker Heineken.

Shares of United Breweries jumped 3.62 per cent to Rs 768 in late afternoon trading on BSE.

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