Heineken bought a 1.3% stake in December

Heineken bought a 1.3% stake in December

Heineken has paid EUR2.3m (US$3m) to edge up its stake in India's United Breweries (UB).

The Dutch brewer said today it bought 250,000 shares, equal to 0.09% of the Vijay Mallya-owned UB. The deal boosts Heineken's total stock to 38.85%. 

A Heineken spokesperson told just-drinks that the shares were offered by the Mumbai-based Yes Bank.

“As a long-term partner in UB it made sense for us to buy them,” the spokesperson said. “As the majority shareholder in UBL it should not be a surprise to anyone that Yes Bank approached us.”

The spokesperson added that Heineken continues to believe in the Indian beer market and UB's long-term future.

Heineken overtook Mallya as the largest shareholder in UB in December after it purchased an additional 1.3% stake.