India: UB may gain control of Foster's Indian business
The UB group hopes to gain control of the Indian business of Foster's, according to India Business Insight Via Thomson Dialog NewsEdge report on April 6. Scottish and Newcastle is bidding for the assets of Foster's in India. Scottish and Newcastle has a 37.5 percent stake in the UB group. Foster's has a brewery in Aurangabad and proposes to exit from India. UB intends to invest Rs300 crore to expand its operations in the country in the next 3 years.
The group has nearly 50 percent share of the beer market in India.
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