Heineken ups stake in UBL; buys shares worth Rs 152 crore

Heineken International BV, the maker of Heineken beer, has increased its stake in United Breweries by buying shares worth Rs 152 crore in an open market transaction on Friday. 

The shares were purchased from private sector lender Yes Bank. According to block deals data available with BSE, Heineken International bought 18,54,785 shares, or 0.7% stake, in UBL. The shares were bought at an average price of Rs 819.5 apiece, valuing the transaction at Rs 152 crore. United Breweries Ltd (UBL) makes Kingfisher Beer.

As on June 30, Heineken held 43.02% stake in UBL through three companies - Heineken International B V, Heineken UK Ltd and Scottish & Newscastle India Ltd. While Scottish & Newscastle India Ltd held 34.04% stake in the firm, Heineken International B V held 5.77% and Heineken UK Ltd held 3.21%.

Heineken had indirectly acquired 37.5% stake in UBL following its worldwide takeover of Scottish & Newcastle (S&N) in January, 2008. Following the deal, Heineken has been raising stake in UBL through open market transactions.