INDIA: Shaw Wallace shares up on bid rumours
Shares in Shaw Wallace have leapt over the last week, up 10% on Tuesday and the same again yesterday. The rise has fuelled speculation on the markets and in local press that a takeover of the Indian spirits producer is imminent.
It was reported in the Economic Times that speculation centres around a hostile bid on the company by way of an open offer from business rival Vijay Mallya, chairman of the United Breweries group, the current market leader.
Mallya has denied any move, while a Shaw Wallace spokesman declined to comment.
Last year Shaw Wallace owner, the Jumbo Group, put the liquor business up for sale. However, it told its broker, McKinsey & Co., not to consider bids from United Breweries.
UK whisky group Whyte and Mackay is among the other bidders being linked to Shaw Wallace by the local press.
The second part of a report on the Indian soft drinks market from analysts Euromonitor examines the progress of non-carbonated sectors, looking at the growth of the bottled water category and the pote...
India's largest brewer, United Breweries, is to spend INR4bn (US$90.7m) on boosting its brewing capacity as it aims to keep pace with the country's booming beer market....
Whyte and Mackay has said it is open to offers for its Invergordon distillery as it continues to restructure its business....
The United Breweries-Scottish & Newcastle combine may buy Australian beer maker Foster's franchise in India, according to market sources....
SABMiller has entered into an agreement with the UB Group to market the Indian company's whisky brand Royal Challenge....
UK-based brewing group Scottish & Newcastle (S&N) has issued an upbeat trading statement for the first nine months of the year....
United Breweries Group (UB) is planning to launch three more wine brands in the Indian market....
InBev may be entering the Indian market soon through a joint-venture....
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