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NEW DELHI: In a surprising business move, Dutch brewer Heineken has recently bought United Spirits’ 3.21 stake in Kingfisher beer maker United Breweries. Heineken has paid an amount of Rs. 872 crore ($137 million) to take over the famous brand in India.
The stake of Heineken in the breweries has now hiked from 39 percent to 42.1 percent, giving them an upper hand over Vijay Mallya in the running company.
However, this certainly does not indicate Mallaya will lose total control over the firm he spent his life constructing and taking to a level it is today as he shall continue to possess 37.5 percent of the company and the two partners will have the same shareholder rights.