BUSINESS

SABMiller to manage JV with Shaw Wallace

NEW DELHI MAY 22 . Mysore Breweries Limited (MBL), a subsidiary of the multinational SABMiller India, and Shaw Wallace India have announced the setting up of a 50:50 joint venture.

The venture will be known as Shaw Wallace Breweries Limited and hold the combined brewing interests of both companies.

It will lead to creation of a leading brewer in this market with an estimated initial market share of about 35 per cent, according to a company news release.

The relationship between the JV partners is governed by a shareholders' agreement, under which the operational management control will lie with MBL. The Shaw Wallace Chairperson, Vidya Chhabria, has been appointed Chairperson of the new JV and the SABMiller India MD, Richard Rushton, has been appointed as the Managing Director for this venture. Komal Chhabria Wazir of the Shaw Wallace Group has been appointed to the board of SABMiller Asia BV.

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