Heineken offers Rs 3200 crore for pledged shares of United Breweries: Sources

Heineken has offered a lump sum of Rs 3200 cr for pledged shares of United Breweries, reports CNBC-TV18’s Kritika Saxena quoting sources.

Heineken which was at about 31 percent, have hiked their stake to about 43 percent over the last three years.

In September, last year CNBC-TV18 had reported that Heineken was close to making a formal offer to the lenders of United Breweries that hold the pledge shares of Vijay Mallya’s UB stake.

So the pledged stakes of UB and Mallya’s stake comes up to 14 percent. The value of the stake at the current market price would be around Rs 2700 crore odd. So, Rs 3200 crore offer is at a premium.

The discussions are on, but the deal hinges on negotiation with bankers and cases pending against UB.

However, sources say, Heineken is very keen and wants a controlling stake to ensure a significant presence in the company.

Sources also say, bankers are still studying this offer and it is unlikely that the deal would go through before August 2017.