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Friday May 9, 9:54 PMIndia's UB, Heineken discuss new accord post S&NMUMBAI, May 9 (Reuters) - India's top beer maker, United Breweries Ltd , hopes to draw up a new joint venture agreement with Heineken , a company official said, to protect its position in an increasingly competitive market.The Dutch brewer acquired 37.5 percent of United Breweries, which makas Kingfisher beer, following a 7.8 billion pound ($15 billion) takeover with Carlsberg of the Indian brewer's erstwhile partner, Scottish & Newcastle (S&N). Under the purchase agreement, Heineken took over S&N's operations in Britain, Finland and Portugal as well as India. But Heineken, in a joint venture with Fraser & Neave , also has a stake in Singapore's Asia Pacific Breweries , which is stepping up its presence in India and whose flagship is Tiger beer. "We view APBB as competition, and according to the conditions of our agreement with S&N, that is not acceptable," UB Group Chief Financial Officer Ravi Nedungadi said on Friday. UB Group, which also has 37.5 percent ofà |
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