New Delhi (Anish Yande): Shares of United Breweries Limited fell by 1 per cent on Wednesday's trading session following the announcement of the acquisition of an additional stake by Heineken. United Breweries Limited shares opened at an intraday high of Rs 1,498 per share from its previous close of Rs 1,456 per share. The market cap of United Breweries Limited fell to Rs 37,863 crore.
Heineken International acquires additional stake in United Breweries:
Heineken International BV would be acquiring an additional stake in United Breweries Limited. The Competition Commission of India has approved the acquisition of an additional stake by Heineken International BV on June 21.
Heineken International BV is set to acquire an additional equity stake up to a maximum of about 16.40 per cent shareholding in United Breweries Limited. Heineken acquired around 39.64 million shares, consisting of a 15% stake in the company.
Heineken's shareholding in United Breweries Limited has increased to 61.50% from 46.50%. Currently, Heineken has a 46 per cent stake in United Breweries. Heineken may increase its shareholding in United Breweries further and may bid for the entire stake.
Heineken is carrying out the acquisition through Heineken International B V, which is an investment holding company. The company holds a stake in all non-Dutch companies that are a part of the Heineken Group. Heineken Group is a group of companies that manufacture, package and distribute beverages. The beverages include alcoholic and non-alcoholic beverages
United Breweries Financial Performance:
United Breweries Limited is a public limited company that manufactures and distributes beer and other alcoholic beverages in India. United Breweries Limited had reported its net profit at Rs 96.76 crore in Q4FY21 as compared to Rs 41.19 crore a year earlier. The net profit increased by 134.91% on a year-on-year basis.
The beverage company had posted net sales at Rs 3628.5 crore in the fourth quarter of FY21 as compared to Rs 3099.58 crore in the quarter a year earlier. The net sales increased by 17.06% on a year-on-year basis. The company received strong growth in regions such as Karnataka, Maharashtra, Goa. Revenue growth in some regions was affected due to taxation.
Image Credit: Google