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ICICI Bank Buys Rs 186-Crore United Breweries Shares

ICICI Bank, the country's largest private sector lender, on Wednesday picked up 19.58 lakh shares in United Breweries Limited for a little over Rs 186 crore through an open market transaction.
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ICICI Bank Buys Rs 186-Crore United Breweries Shares
New Delhi: ICICI Bank, the country's largest private sector lender, on Wednesday picked up 19.58 lakh shares in United Breweries Limited for a little over Rs 186 crore through an open market transaction.

The shares were offloaded by United Breweries (Holdings) Ltd, a promoter of United Breweries.

According to block deal data available with the stock exchanges, ICICI Bank purchased a total of 19,58,000 shares, amounting to a 0.74 per cent stake in United Breweries.

The shares were bought for an average price of Rs 950.1 apiece, valuing the transaction at Rs 186.03 crore.

As of September quarter, United Breweries (Holdings) Ltd held 3.03 crore shares, or an 11.46 per cent stake, in the company.

United Breweries, which makes Kingfisher Beer, is India's largest brewer.

In November, Yes Bank had sold 4.25 lakh shares in United Breweries for Rs 39.48 crore through open market route. These shares were purchased by Heineken International BV, the maker of Heineken beer.

Shares in United Breweries, on Wednesday, ended 0.9 per cent lower at Rs 940.40 apiece on the BSE, whose benchmark Sensex index was down 0.68 per cent.

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