BEER, LIQUOR SECTORS BUBBLING WITH M&A CHANCES
Article Abstract:
The foreign funds, institutional investors, venture capitalists and non resident Indians are keen to invest in the Indian liquor industry. The liquor market in India is growing at double digit. The per capita consumption of beer is very low, which offers huge potential. The western markets have recorded negative growth in brown spirits. United Breweries (UB) and Shaw Wallace (SW) face financial crunch. Though UB has 40 percent market share in beer, its scrip is traded at Rs20 to Rs30. The Indian companies either technology or capital shortfall. UB planned to sell McDowell brands to Seagrams in 1998. Miller's, Heineken and San Miguel were interested in Khoday group. Khoday group and SW had earlier negotiated with each other. United Distillers started the merger trend by merging its local operations with IDI Ltd. UB group plans to buy. The multinational companies (MNCs) are willing to invest huge amounts with a 10 year perspective. MNCs plan to go for strategic investment to outright buy-out, lease of production facilities and joint marketing arrangements. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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Re CLOSES 2 PS LOWER AT 42.53
Article Abstract:
The rupee closed at 42.53/54 against the dollar in the foreign exchange markets on December 8, 1999. This was lower by 2 paise when compared to its close of 42.515/525 against the dollar on December 7, 1999. Dealers said that deals were made in the range of 42.49-42.54 on December 9, 1999. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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