InvestorQ : Why did SEBI exempt Heineken from the open offer stipulation for UBL shares?
sara Kunju made post

Why did SEBI exempt Heineken from the open offer stipulation for UBL shares?

Answer
image
Mary Joseph answered.
6 months ago
Follow

SEBI exempted Heineken of Netherlands from making open offer to the shareholders of United Breweries as a special case. This exemption specifically pertains to the acquisition of 15% stake by taking over the stake that the Debt Recovery Tribunal was looking to sell. This is towards the recovery of dues of Vijay Mallya and his group. Normally, Heineken being promoter entity, this would have triggered an open offer, but special exemption was made.

1 Views