M&A

M&A

Beer maker Bira 91 acquires brewery Kamakhya Beer from CDL

BusinessWorld  

Beer maker Bira 91 has acquired brewery Kamakhya Beer & Bottling, a subsidiary company of Chhattisgarh Distilleries (CDL), in a share swap deal. CDL owns brands such as India No.1 Magnum Whiskey, Red Indian Rum, and Palm Beach Whiskey,. Bira has swapped INR 22.6 crore worth of its pre-Series D compulsorily convertible preference shares (CCPS) to CDL in exchange for 10,000 shares held by the latter in Kamakhya Beer. CDL is also investing an additional INR 11.3 crore in Bira 91, further increasing its stake in the popular beer maker.