The Hindu Business Line : UB to issue 1 share for every 40 in Mangalore Breweries

UNITED Breweries Ltd will issue one fully paid-up share of Rs 10 for every 40 equity shares of Rs 10 each in Mangalore Breweries and Distilleries Ltd (MBDL).

In a BSE notification on Saturday, UB Ltd said that the Committee of Directors has approved the amalgamation of MBDL and de-merging of the brewing business of Associated Breweries and Distilleries Ltd (ABDL) into the company. As UBL holds 98.3 per cent of the equity share capital of MBDL, equity shares will be issued to the remaining shareholders of MBDL. Since ABDL is a wholly owned subsidiary of UBL, no equity shares will be allotted upon de-merger.

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