The United Breweries (UB) group and Dutch brewer Heineken on Monday announced an alliance to promote the two companies’ respective brands in India and global markets.

The two companies have entered into a fresh shareholders’ agreement and “have resolved their differences amicably,” a release from the UB group says.

The agreement stipulates that Heineken will be active in the Indian market solely through United Breweries Ltd. (UBL).

A separate release issued by Heineken states that the terms of the new agreement give it the right to nominate three members of the UBL board, including the executive position of Chief Financial Officer.

Heineken and UB Group Chairman Vijay Mallyam and his associates jointly hold a 75 per cent stake in UBL.

Heineken holds 37.5 per cent stake in UBL, UB group Chairman Vijay Mallya and his associates 37.5 per cent and the public the balance, the release added.

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