India: Heineken denies industry talk about intentions of buying out Vijay Mallya and PAC stake in United Breweries

Heineken International is likely to buy out Vijay Mallya and PAC stake in United Breweries at Rs 920/share, Moneycontrol.com cited undisclosed sources on February 4.

Post the deal, Heineken is likely to reshuffle the entire United Breweries board. If the deal goes through, Heineken will gain management control of UBL.

Senior executives from Heineken are in India to finalise deal, sources add. UB Group may retain below 1.5 percent stake in UBL post deal. Heineken currently holds 42.3 percent and UB Group holds 32.29 percent in United Breweries.

However, when contacted, UB Group said the information is wholly incorrect, while Heineken said: "Our company policy is that we do not comment on speculation in the marketplace."

05 February, 2016