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United Breweries To Sell Stakes To Heineken For Kingfisher Fund-raising

The very famous business tycoon, Vijay Mallya is on a verge to sell his UB groups’ shares to raise funds to save his Kingfisher Airlines. He is going to sell United Breweries’ stakes to a Dutch brewer, Heineken NV, said the officials.

United Brewery UB Group Logo
United Brewery UB Group Logo

Right now, Vijay Mallya has the only option to save his Kingfisher Airlines by selling shares in the market and Heineken is interested to buy because they are interested to establish their company in India. They will also be able to hold the Indian market as a beer manufacturer.

This Amsterdam-based company holds a 37.38% stakes of UB Group, but right now UB Group’s any of the officials are not available to the media for any information. But Mallya is under pressure because his airlines workers are giving ultimatum to the owner for strikes. Shares in United Spirits were going up to 1.4% and UP were up to 0.6% according to the Thursday trading.

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