Heineken acquires additional 14.99% stake in UBL

Heineken got an open offer exemption from SEBI to buy an additional 14.99 percent stake in the company from the Bangalore debt recovery tribunal.

June 23, 2021 / 03:30 PM IST

Heineken International BV is likely to have acquired an additional 14.99 percent stake in United Breweries Ltd (UBL) after around 3.96 crore shares of the Bangalore-based company were traded on BSE at Rs 1,471.25 per share.

Heineken got an open offer exemption from the Securities and Exchange Board of India (SEBI) to buy an additional 14.99 percent stake in the company from the Bangalore debt recovery tribunal.

The development comes after the Competition Commission of India (CCI) on June 21 said it has approved Heineken International BV's proposed acquisition of an additional equity stake in United Breweries (UBL).

Also Read: CCI okays Heineken's additional equity stake acquisition in United Breweries

Prior to the transaction, Heineken held a 46 percent stake in UBL.

Following the report, shares of UBL fell more than 2 percent on the NSE. The stock had hit a 52-week high in today's session prior to the sharp fall.

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At the time of writing this copy, UBL was trading at Rs 1,428, down 1.96 percent on the NSE.

Moneycontrol News
first published: Jun 23, 2021 10:42 am

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