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India’s United Breweries seeks close Heineken ties

India’s United Breweries has suggested close distribution ties with Heineken following the takeover offer by the Dutch brewer and Carlsberg for Scottish & Newcastle, which owns a stake in UB.

As part of the £7.8bn ($15.5bn) deal, recommended by S&N last week, Heineken will assume the UK-based company’s 37.5 per cent stake in UB and, under local law, the move could trigger an open offer for a further 20 per cent stake.

Vijay Mallya, UB’s controlling shareholder, also controls 37.5 per cent of the company, meaning any open offer by Heineken could lead to a takeover battle for the Indian group.

read the rest published by FT here:

http://www.ft.com/cms/s/0/23f3f6c2-cf9f-11dc-854a-0000779fd2ac.html