The new beer's rollout has begun in Rajasthan. Under a phased expansion strategy, Karnataka is expected to follow, with more states to be added based on early response.
Dutch brewing major Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries Ltd, taking its total shareholding to 61.50 per cent. "Heineken N.V. today (on Wednesday) announces that it has acquired an additional 39,644,346 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement. UBL, with its flagship brand 'Kingfisher', is the leading player in the beer market in India.
United Breweries Ltd Chairman Vijay Mallya received over Rs 1.4 crore as commission and sitting fees during 2011-12 from the company.
Last month, India's AlcoBev industry pulled off a successful two-day showcase exhibition at the Hotel Renaissance in Powai. We got experts to show readers how they can create some mind-boggling cocktail concoctions, so watch and learn.
United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore (342 million) for the second quarter ended September 30, as against Rs 19.5 crore (195 million) in the year-ago period.
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd, Heineken NV, the world's third-largest brewery firm, on Monday agreed to permit UBL to brew and market the Heineken brand in India.
United Breweries Ltd plans to invest about Rs 100 crore (Rs 1 billion) in establishing new Greenfield brewery plants in Orissa, Rajasthan and Uttar Pradesh, as well as expanding the ones.
United Breweries Ltd has bought out the minority stake of 35 per cent in Associated Breweries and Distilleries Ltd with the deal being finalised at a put option price of Rs 24 crore (Rs 240 million).
McDowell has acquired 85 per cent of Triumph Distilleries and Vintners Pvt Ltd at around Rs 600 million from a clutch of investors.
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Banks tighten hold on Mallya for defaults on KFA loans
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Diageo may not be able to recover $135 mn loan from Mallya firm
United Breweries says sales could fall by 40% following court ban.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
The banks have asked the court to demand his return and to impound his passport.
With this, Heineken's stake has risen from 39% to 42.2%.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
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