Heineken hikes United Breweries stake to over 60%; acquires 15% for Rs.5,825-Cr via DRT

Netherlands-headquartered Heineken has increased its stake in Bengaluru-based, publicly listed United Breweries Ltd (UBL) to 61.5% by acquiring an additional 14.99% stake - for about INR 5,825 crore - via the Debt Recovery Tribunal (DRT). With Heineken receiving an exemption from making an open offer, it could also acquire the balance 11% UB group stake pledged with banks through the same route. These shares were earlier owned by UB group chairman, Vijay Mallya.