Heineken has upped its stake in UB recently

Heineken has upped its stake in UB recently

Heineken has declined to comment on a report it is looking to take control of India's United Breweries (UB).

Reuters today said the Dutch brewer, which owns 42.1% of UB, intends to raise its holding to a majority stake by buying shares from second-largest shareholder Vijay Mallya. The stake increase will be completed over the next two years, the report said, citing sources close to the matter.

A Heineken spokesperson told just-drinks the company does not comment on rumours.

The company has increased its stake in UB twice over the past year, most recently in July. In December 2013, it overtook Mallya as the largest shareholder in UB after it purchased an additional 1.3% stake.

Heineken inherited an interest in United Breweries when it teamed up with Carlsberg to buy Scottish & Newcastle in 2008.