INDIA: Twelve breweries in race for UB stake - sources
Twelve international companies have expressed an interest in the strategic stake being offered by Indian giant the UB Group in its demerged beer arm BrewCo, local sources have said.
Officials from within UB are quoted in India's Business Line saying that 12 foreign brewers have been involved in preliminary interactions that could lead to formal bids by mid-October.
Kotak Mahindra Credit Capital and Goldman Sachs are handling the sale and are expected to recommend two bids, the winning one of which should be finalised by the end of the financial year, UB said.
UB has offered a 26% stake in BrewCo, which is expected to fetch Rs1200 crore, close to US$260m. The offer came after several international players approached UB as a strategic partner in India.
Beer - India 2001
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