India Inc feels the impact of global M&As Dutch brewer Heineken is set to buy UK-based Scottish & Newcastle’s (S&N) 37.49 per cent stake in Vijay Mallya’s United Breweries. This is part of a worldwide deal under which S&N’s global operations will be jointly acquired by Danish beer giant Carlsberg and Heineken for $15.4 billion. Under an agreement reached by three companies involved in the deal, Heineken will take over S&N’s India operations. Vijay Mallya holds 37.49 per cent in UB. The company's shareholder pattern consists of 74.98 per cent of promoter group holdings (37.49 per cent each by Mallya and S&N), 16.15 per cent foreign institutional investors, 6.55 per cent individuals and 2.32 per cent others. UB’s share price on the Bombay Stock Exchange rose 6.82 per cent from Rs 289.50 to Rs 309.25 as the falling stock market bounced back. However, Heineken may not be required to make an open offer. According to Securities and Exchange Board of India rules, the open offer will be triggered only if a single shareholder acquires more than 14.99 per cent. […]

The New York-based BlackRock — the largest quoted asset management company in the world, managing assets in excess of $1.3 trillion — will acquire a 40 per cent stake in DSP Merrill Lynch Fund Managers. DSP Merrill Lynch Fund Managers will be renamed ‘DSP BlackRock Investment Managers’, while DSP Merrill Lynch Mutual Fund will be renamed, ‘DSP BlackRock Mutual Fund’. The DSP Group is owned by Hemendra Kothari and has a track record of over 140 years. Through its investment companies, the DSP Group will continue to retain its existing 60 per cent stake in the joint venture. Addressing a press conference here, Mr. Kothari, Chairman, DSP Merrill Lynch Fund Managers, said, “The participation and involvement of BlackRock will facilitate continuity and enhanced focus on the growth of the joint venture.” […]