United Breweries shares fall after Heineken acquires additional 14.99% stake

The proposed transaction relates to HIBV’s potential acquisition of additional equity stake in UBL. Currently, Heineken has 46 percent stake in United Breweries which may increase further. Heineken may bid for the entire stake.

United Breweries share price paired gains after opening in the green on June 23, a day after CCI okayed Heineken’s additional equity stake acquisition in the company. According to CNBC-TV18, around 3.96 crore shares of United Breweries traded on BSE at Rs 1,471.25 per share. Heineken is likely to have acquired an additional 14.99 percent stake via a block deal.

The Competition Commission of India (CCI) on June 21 said it has approved Heineken International BV’s proposed acquisition of an additional equity stake in United Breweries Ltd (UBL). The approval, however, is subject to the outcome of certain court proceedings, a combination notice filed with the Competition Commission of India (CCI) noted.

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