SEBI exempts Heineken from making an open offer for share buy in UBL

Markets Regulator Securities and Exchanges Board of India (SEBI) exempted Heineken International BV from making an open offer for share buy in United Breweries Limited.

It had sought an exemption from an open offer in its application to SEBI on June 7 and June 20. Heineken also had plans on acquiring a maximum 3.96 crore shares (14.99% Eq) in UBL from Bengaluru's Debt Recovery Tribunal (DRT).

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 Ltd (UBL).

In a tweet, the fair trade regulator said, “Commission approves proposed acquisition of additional equity stake in United Breweries Limited by Heineken International BV.”