PIB News Update: The Competition Commission of India (CCI) approves acquisition of additional equity shareholding by Heineken International B.V. (“HIBV”) of United Breweries Limited (“UBL”)under Section 31(1) of the Competition Act, 2002, yesterday.
The proposed transaction relates to HIBV’s potential acquisition of additional equity stake up to a maximum of approximately 16.40 percent shareholding in UBL.
HIBV is an investment holding company and is itself not engaged in any business activity. It is a direct/ indirect shareholder for all non-Dutch companies that form part of the Heineken Group. Heineken Group is an international group of companies engaged in the production, manufacture, packaging, distribution, marketing and sale of beer, non-alcoholic beer, cider and cider-based beverages, and a range of other beverages.
UBL is a public limited company incorporated under the Companies Act, 1956 and is principally engaged in the manufacture, sale and distribution of beer in India. UBL’s shares are listed on the BSE Limited and the National Stock Exchange of India Limited.
Detailed order of the CCI will follow.