United Spirits Sells its Stake in United Breweries to Heineken

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    The Diageo-owned United Spirits exited United Breweries by selling its entire stake in the company to Heineken for Rs 827 crore.

    United Spirits sold its stake to Heineken International BV at a price consideration of Rs 1,030 per share.

    United Spirits Sells its Stake in United Breweries to Heineken
    United Spirits: Quotes, News
    BSE 627.70BSE Quote23.8 (-3.79%)
    NSE 628.30NSE Quote22.65 (-3.60%)
    United Breweries: Quotes, News
    BSE 1290.00BSE Quote22.5 (-1.74%)
    NSE 1292.65NSE Quote25 (-1.93%)
     

    "The company has placed an order for sale by way of a block trade on NSE of 85 lakh equity shares held by the company in United Breweries (consulting 3.21 per cent stake) to Heineken International BV," the company said in the press release.

    USL further said, "The sale consideration net of brokerage is Rs 872 crore resulting in profit on this transaction."

    Following the sale the company will hold no shares in United Breweries and will cease to be a promoter of United Breweries, added further.

    Heineken International BV named as a promoter of United breweries limited as per the latest share holding pattern of United Breweries.

    GoodReturns.in

    Read more about: united spirits united breweries
    Story first published: Wednesday, July 8, 2015, 13:14 [IST]
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