INDIA: Heineken closing on United Breweries deal
Heineken CEO Jean-François Van Boxmeer said in the brewer's half-year results conference today (26 August): "We are optimistic to reach agreement with all relevant parties in the near future."
However, Heineken holds no management positions in UB and the Indian brewer, which is also 37.5%-owned by billionaire Vijay Mallya, previously filed legal action to prevent S&N's stake transferring automatically to Heineken.
Netherlands-based Heineken has previously confirmed that it was in talks with UB to resolve the issue.
United Breweries, which owns the Kingfisher beer brand, recently reported a 57% rise in profits and a 17% increase in sales for its fiscal first quarter.
Heineken surprised many observers with the timing and swiftness of its deal to acquire FEMSA Cerveza, announced this week. Here's what analysts and other media have been saying about the deal....
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