The world’s second largest beer maker, Heineken NV has bought 39.6 million shares, giving it control of India’s largest brewer United Breweries Limited (UBL).

The Dutch brewer revealed on Wednesday that it had bought 39.6 million shares in UBL to push its holding to 61.5% from 46.5% before.

This purchase has led the company to cement its position in a vast market where beer consumption could grow from a low base.

Based on Tuesday’s close at 1,466 Indian rupees, the acquisition would be worth 58.1 billion Indian rupees ($781.3 million), Economictimes reports.


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