In a tweet, the regulator said, “Commission approves proposed acquisition of additional equity stake in United Breweries Limited by Heineken International B.V.”

United Breweries is engaged in the manufacture, sale and distribution of beer in India.

Heineken International B.V. (HIBV) is an investment holding company and is itself not engaged in any business activity. It is a direct and an indirect shareholder for all non-Dutch companies that form part of the Heineken Group, as per the notice.

Shares of United Breweries Limited (UBL) closed nearly 4% higher at ₹1,419.2 per share on the BSE on Monday.

This article was first published on livemint.com.