Industry News       English French Dutch Spanish German Russian Italian Portuguese Portuguese Danish Greek Romanian Ukrainean Chinese Polish Korean
Logo Slogan_Korean


CASTLE MALTING NEWS in partnership with www.e-malt.com Korean
23 June, 2021



Brewing news India & the Netherlands: Heineken takes control of United Breweries

Heineken NV, the world’s second largest beer maker, has taken control of India’s largest brewer United Breweries Limited (UBL), cementing its position in a vast market where beer consumption could grow from a low base, the Financial Post reported on June 23.

The Dutch brewer said on June 23 it had it had bought 39.6 million shares in UBL to push its holding to 61.5% from 46.5% before. Based on the June 22 close at 1,466 Indian rupees, the acquisition would be worth 58.1 billion Indian rupees ($781.3 million).

UBL is the maker of India’s top-selling Kingfisher lager and was owned by Indian businessman Vijay Mallya, who India want to extradite from Britain over $1.4 billion of loans taken out from Indian banks which authorities argue he had no intention of repaying.

The banks took possession of the stake and India’s Competition Commission approved Heineken’s proposed acquisition of additional equity on Monday. Heineken has steadily been building its stake in UBL since taking an initial 37.5% through its 2008 acquisition of Scottish & Newcastle.

Brokers Jefferies said India, accounting for 18% of the global population but only about 1% of world beer volumes, represented a long-term growth opportunity. Traditional drivers of beer expansion, a young population and economic growth, were in place, but high excise duty meant affordability was an issue.

A narrowing of the gap between tax on beer and on spirits, Jefferies said, would give significant potential for the market to grow from current annual beer consumption of 1.6 litres per capita towards the global average of 24.4 litres.





뒤로



E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .














We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.     Ok     아니오      Privacy Policy   





(libra 0.7617 sec.)