Vijay Mallya, the chairman of Indian brewery UB Ltd has recently declared at a news conference, that UB Ltd will be restructured and transformed into a new company UB Beer Ltd. The company that is going to be created will acquire two breweries from Tamil Nadu and Rajasthan regions.

All formalities, from the setting up of the new entity to the purchase of other two breweries will last approximately 4-6 weeks.

After all these changes will be done, the group will forward for examination a project regarding the establishment of a joint venture with Scottish & NewCastle to the Foreign Investment Promotion Board.

02 April, 2002