CCI approves Heineken's additional equity stake acquisition in United Breweries
This, however, is subject to the outcome of certain court proceedings, a combination notice filed with the Competition Commission of India (CCI) noted.
Fair trade regulator Competition Commission of India (CCI) on Monday said it has approved Heineken International B.V's proposed acquisition of an additional equity stake in United Breweries Ltd (UBL).
This, however, is subject to the outcome of certain court proceedings, a combination notice filed with the Competition Commission of India (CCI) noted. "The proposed transaction relates to HIBV's potential acquisition of additional equity stake in UBL," it said.
United Breweries is engaged in the manufacture, sale and distribution of beer in India.
Heineken International B.V. (HIBV) is an investment holding company and is itself not engaged in any business activity. It is a direct and an indirect shareholder for all non-Dutch companies that form part of the Heineken Group, as per the notice.
Shares of United Breweries Limited (UBL) closed nearly 4% higher at ₹1,419.2 per share on the BSE on Monday.
(With inputs from PTI)
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