Heineken UK has acquired 3.21% stake in United Breweries Group, an Indian conglomerate with businesses in beverages, aviation, electrical and chemicals, for an undisclosed amount.

The 3.21% stake was previously held by Scottish & Newcastle India Private Limited (SNIPL), whose shareholder is Heineken UK with 32.22 million shares.

On 18 April 2013, United Breweries filed an order of the Karnataka High Court with the Registrar of Companies in Karnataka.

This forced SNIPL to amalgamate with United Breweries, following which United Breweries handed over the SNIPL shares to Heineken UK.

United Breweries was in strategic alliance with SNIPL since 2006.

Though the financial details were not disclosed, the 3.21% stake is estimated to be worth INR6.35bn ($115.7m).

According to the Heineken Group, it holds 37.5% equity shares in United Breweries.

In another development, Heineken Group has signed an agreement to form a joint venture with privately-owned Alliance Brewery Company (ABC).

According to the agreement, Heineken, through its subsidiary Asia Pacific Breweries (APB), will own 57% stake in the joint venture and will handle all the management, brewing and technical expertise, procurement of ingredients and the licensing of brands activities.

The new joint venture – APB Alliance Brewery Company Limited (APBABC) – will build a new greenfield brewery in Myanmar, where it will manufacture and sell Heineken beers.

The $60m brewery will come up in Yangon, Myanmar and will be operational by the end of 2014.