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Thursday, October 21, 1999

UB floats new company for Jain

ENS ECONOMIC BUREAU  
BANGALORE, OCT 20: UB Ltd has floated a new subsidiary - Millennium Alcobev Ltd (MABL) - to market beer products in the country. UB will have a 62 per cent equity stake in the marketing arm with the balance being held by senior managers and distributors.

MABL will be headed by Ravi Jain, who returned from Shaw Wallace & Co Ltd to the UB group. Jain is likely to have a large chunk of individual shareholding in MABL after UB Ltd. Millennium Alcobev would kick off its operations by December. To begin with, MABL would take over marketing and distribution of the Sun Lager, Flying Horse, Kalyani Black Label Strong, Bullet and Charger brands.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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