CCI okays Heineken's addl stake in UBL

Fair trade regulator CCI on Monday said it has approved Heineken International B.V's proposed acquisition of an additional equity stake in United Breweries Ltd (UBL). This, however, is subject to the outcome of certain court proceedings, a combination notice filed with the Competition Commission of India (CCI) noted.

"The proposed transaction relates to HIBV's potential acquisition of additional equity stake in UBL," it said.

United Breweries is engaged in the manufacture, sale and distribution of beer in India. Heineken International B.V. (HIBV) is an investment holding company and is itself not engaged in any business activity. It is a direct and an indirect shareholder for all non-Dutch companies that form part of the Heineken Group, as per the notice. In a tweet, the regulator said: "Commission approves proposed acquisition of additional equity stake in United Breweries Limited by Heineken International B.V."