Vijay Mallya-led United Breweries on Wednesday said Heineken U.K. Ltd. had acquired 3.21 per cent stake in the company.
United Breweries allotted over 84.89 lakh shares, representing 3.21 per cent, to Heineken U.K. 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 U.K. is a part of global liquor maker Heineken.
