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Last Updated : Dec 24, 2019 08:49 PM IST | Source: Moneycontrol.com

United Breweries share price gains 6% on potential Heineken offer

Vijay Mallya and other promoter entities collectively holding 11 percent.

 
 
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United Breweries share price gained nearly 6 percent intraday on December 24 on reports suggesting that Heineken is going to consider an open offer to increase the stake in the company.

Heineken is likely to launch a voluntary open offer for 10-15 percent stake in the company to strengthen control by hiking stake to over 51 percent, reported CNBC-TV18, quoting sources.

Heineken, in response, said,"We do not comment on market rumours."

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Heineken is already the largest shareholder with a 46.7 percent stake in United Breweries and may look at higher board representation post the offer.

Vijay Mallya and other promoter entities collectively holding 11 percent.

At 14:40 hrs, United Breweries was quoting at Rs 1,290.15, up Rs 50.20, or 4.05 percent on the BSE.
First Published on Dec 24, 2019 03:21 pm
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