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United Breweries, Heineken may form Indian venture

Officials from K. Seeds Investments Pvt Ltd (at left) with officials from Commercial Credit and Finance PLC (at right)

NEW DELHI, May 28 (Asia Pulse) - Vijay Mallya-led United Breweries (UB) and Dutch beer maker Heineken could come together in the Indian market, following the exit of Jaipuria from Asia Pacific Breweries-Pearl.

"Talks between both companies (UB Group and Heineken) are in the advance stages and soon both will announce the deal," a source familiar with the development said.

The two firms are looking at floating either a special purpose vehicle or a joint venture and bring together their distribution businesses under a single entity, the sources said.

The two firms had been locked in conflict of interest battle after Heineken, in collaboration with Danish brewing major Carlsberg, acquired UK-based Scottish & Newcastle (S&N), which had around a 37 per cent stake in United Breweries.

Heineken's interest in APB-Pearl -- a joint venture between its Singapore-based subsidiary Asia Pacific Breweries (APB) and Jaipuria Beverages & Food Industries -- had proved to be a roadblock with UB objecting on the ground of conflict of business interest.

UNITED BREWERIES, HEINEKEN MAY FORM INDIA-BASED JOINT VENTURE $all $in $eur $fod $jtv With ABP acquiring the entire 33 per cent stake of Jai

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