Asked if this was a precursor to Heineken playing a larger role in United Breweries, on the lines of group company USL’s deal with Diageo, Prakash Mirpuri, spokesperson for UB, said: “Heineken already has a 37.5 % stake in UBL and is a joint venture partner of the UB Group. In the case of the Diageo deal, UBG proposes to sell a 12.78% stake.”
Specific financial details were not disclosed. The shares were allotted on May 13. Based on that day's closing price of Rs. 748.10 per share, the 3.21% stake would be worth about Rs. 635 crore.
Shares of United Breweries closed 3.52% up to Rs. 767.25 in on the BSE.