Heineken NV has bought a 3.21 percent stake in India’s United Breweries Ltd., the maker of Kingfisher beer, for 8.72 billion rupees ($138 million) from United Spirits Ltd.
The transaction raises Heineken’s stake in India’s biggest beermaker to about 42 percent.
The sale of 8.5 million shares was done through a block trade on the National Stock Exchange at 1,030 rupees apiece, United Spirits, a unit of Diageo Plc, said in an exchange filing in Mumbai.
United Spirits said it has no stake left in United Breweries after the sale and the divestment was part of its plan to monetize some non-core assets.
Bloomberg News, edited by ESM
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