Heineken International increase stake in UBL to 40.51%
- King of Goodtimes is coming to an end it seems. Yes Heineken International has bought another 1.51 % of UBL Share from Open Market.It looks like these where sale of Pledge share which Heineken took at Rs 726 a Piece.
- This bring the Stake of Heineken to more than 40 % in the group. As per filing with NSE by McDowell there was 4.05 % of shares which the Holding company had .now it has reduced to 3.96 % on account of invocation of pledge created in favor of lender.Which i believe the pledge share by McDowell has been sold of.
- Total of 250,000 Shares changed hands at Rs 726.
- As more pledge shares come to sale Heineken is for sure to buy it.Last year in Dec 2013 it bought 1.39 % from open market to increase it stake to 39%
