Mallya bids for Foster's beer units in India, Vietnam

MUMBAI: Continuing its global acquisition drive to become the numero uno liquor player, Vijay Mallya's United Breweries is believed to have made a bid for a part of Australian giant Foster's presumably valued at 234 million dollars.

According to sources, Mallya has bid for Foster's beer units in India and Vietnam, which is estimated to be valued at 234 million dollars.

"Mallya has made a bid for the beer units of Foster's in India and Vietnam," sources informed.

Sources said Mallya's bid for Foster's units in India and Vietnam is expected to counter competition from Scottish and Newcastle and another unidentified Chinese beer major.

When contacted company officials declined to comment.

Sources, however, maintained that despite UB's top position in the beer market in India, the company was interested in the deal as it would give it an added advantage.