25 December, 2019

The Netherlands & India: Heineken wants to further expand interest in United Breweries - sources

Beer brewer Heineken wants to expand its interest in Indian counterpart United Breweries. The American business channel CNBC reports citing undisclosed sources.

United Breweries is known for the Kingfisher beer brand. Earlier this year, Heineken announced that it had expanded its stake in the Indian brewery by 7.4 million shares. Heineken owns almost 10 percent of the shares. Now, according to the insiders, it wants to get another 10 percent to 15 percent of the pieces. There have already been rumors that Heineken is aiming for the majority of the United Breweries shares. Heineken would also like to have a clearer voice in the management of the company.

Heineken states in a response that rumors in the market are never addressed, a spokesperson reported.

The news from CNBC caused a price jump of nearly 5 percent for the United Breweries share on the stock exchange in India. Heineken showed a minus of 0.9 percent on the stock exchange in Amsterdam.

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