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S & N tie up UBL deal

S & N tie up UBL deal

03 May 2005
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Scottish & Newcastle acquires 37.5% of the shares of United Breweries Limited India's leading brewer.

03/05/05 Scottish & Newcastle (S&N) has completed its acquisition of 37.5% of the shares of United Breweries Limited (UBL), India's leading brewer. The completion of this acquisition gives S&N an equal stake with the group of shareholders led by Dr Vijay Mallya, Chairman of UBL (the VJM Group).

Following a UBL board meeting on Friday 29 April 2005 in Goa, S&N and the VJM Group have each appointed two directors to the UBL Board and jointly appointed three independent non-executive directors. S&N has also announced the appointment to the UBL Board of Lesley Jackson who will take up the executive role of Chief Financial Officer of UBL. Jackson has served in a number of senior finance roles in S&N's UK business, including acting as UK Finance Director and Business Development Director in Bulmers, S&N UK's leading cider business.

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