India’s king of beers, Kingfisher got sold to Heineken yesterday. Owned and manufactured by Vijay Mallya’s United Breweries, Kingfisher has, for decades, been the number one locally manufactured beer in India.
© Heineken
Paying a large lump-sum of Rs 872 crores, Heineken now holds 42.1% stake in United Breweries (UB). The deal only gives Heineken a upper hand in the operations, while Mallya will still continue to enjoy a 37.5% hold in the company.
© kingfisher
The deal surely does raise eyebrows keeping in mind that Mallya is already knee-deep in debts, and is trying to come out of the Kingfisher Airlines fiasco.
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