Heineken has been successful at taking majority control of United Breweries, India’s biggest brewer, after purchasing neatly 40 million shares in the company.
The brewer bought nearly 40 million shares in UB for around $7.9 million as part of the court-enforced sales of assets seized from former chairman Vijay Mallya to repay his debts to a consortium of banks. UB became known in the U.S. craft brewing industry when its owner, Vijay Mallya took control of the floundering Mendocino Brewing in 1997.
Heineken now owns more than 60% of United Breweries, having previously been the biggest shareholder with 46%.
More details here.