Additional equity stake acquisition in United Breweries by Heineken International B.V. is approved by the Competition Commission of India (CCI).
The proposed transaction, however, is subject to the outcome of certain court proceedings, according to a combination notice filed with the anti-trust body.
In a tweet on Monday, the CCI said: “Commission approves proposed acquisition of additional equity stake in United Breweries Limited by Heineken International B.V.”
HIBV is an investment holding company and is itself not engaged in any business activity. It is a direct/indirect shareholder for all non-Dutch companies that form part of the Heineken Group.
The Heineken Group is an international group of companies engaged in the production, manufacture, packaging, distribution, marketing and sale of beer, non-alcoholic beer, cider and cider-based beverages, and a range of other beverages.
UBL is a public limited company incorporated under the Companies Act, 1956 and is principally engaged in the manufacture, sale and distribution of beer in India. Its shares are listed on the Bombay Stock Exchange Ltd and the National Stock Exchange of India Ltd.