India: Heineken eyes control of Mallya’s United Breweries

Bottles of beer are seen on an assembly line during the opening ceremony of the Heineken Beer factory outside Yangon July 12, 2015. REUTERS/Soe Zeya Tun

Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1 billion, to step down from the board of United Breweries, India’s largest brewer, three people with direct knowledge of the plan told Reuters.

They said such a move would likely be a prelude to the Dutch drinks firm raising its stake in the maker of Kingfisher beer to above 50 percent, betting on a small but fast-growing beer market.

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