04 October, 2006

India: Hyderabad-based Crown Breweries JV to bring Budweiser to India

Bud, the Iconic beer, is on its way to India, with the board of Anheuser-Busch (A-B) finally clearing the company's joint venture plans for the country, The Economic Times (India) Via Thomson Dialog NewsEdge released October 03.

Sources said A-B will pick up to 50% stake in the Hyderabad-based greenfield project, Crown Breweries, after the beer giant's strategy committee and the board cleared the plan in the past two weeks. A-B is expected to invest Rs 100 crore in this manufacturing, distribution and manufacturing venture. The original promoters of Crown Breweries, who will hold the remaining 50% stake, is expected to come up with a matching investment.

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