Following the amalgamation of several other entities, United Breweries’ (UB) promoters have increased their stake in the company by 3.22%. The promoters' holding in the company now stands at 74.75%. This refers to 14 participants including United Spirits, Vijay Mallya, Scottish & Newcastle India and Heineken International who acquired 85 lakh shares of UB.
This scheme of amalgamation was sanctioned by the High Courts of Karnataka and Madras after which the transaction was honored.
Earlier, the company had announced the amalgamation of United Millenium Breweries, Millenium Beer Industries, UB Nizam Breweries, Chennai Breweries and proposed amalgamation of UB Ajanta Breweries into United Breweries. The allotment of equity shares as a result of most of these changes were intimated since November.
United Breweries is maker of Kingfisher beer and Heineken beer in India. Kingfisher is largest selling beer in India that commands 29% of market share. The company has presence in 52 countries.
