Heineken Buys Stake in United Breweries

Heineken UK Limited has picked up 8.48 million shares of United Breweries, or 3.21 percent in the company. The shares were allotted on May 13, according to an exchange notification. The allotment is ‘pursuant to the Scheme of Amalgamation of Scottish & Newcastle India Private Limited(SNIPL) with United Breweries sanctioned by the High Court of Bombay and High Court of Karnataka dated 2 November 2012 and 17 January 2013 respectively,’ said the notification. (Business Standard)