United Breweries Group (UB), beer and drinks group based in India, intends to sell its South African subsidiary, United National Breweries (UNB), Indian Media reported. The decision was taken following the falling of Rand currency and lower demand for the sorghum beer.
First it was thought that UB was considering retaining a 50% stake and management control in UNB. But now it seams this plan is shelved in favour of selling it up. UB initially invested US$15 million in the company when it first moved into South Africa in the middle of 90s.
UNB registers sales of about US$70 million.
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