India. United Breweries approves amalgamation of Chennai Breweries

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United Breweries Ltd has announced that the Board of Directors of the Company at its meeting held on March 11. 2011, have considered and approved the amalgamation of Chennai Breweries Private Limited (CBPL) into United Breweries Limited (UBL).
Share Exchange Ratio
The share exchange ratios were recommended by two independent valuation experts i.e., Grant Thomton and SSPA & Co. Ambit Corporate Finance Private Limited shall be providing fairness opinions on the swap-ratios recommended by the independent valuation Experts.
As consideration for Amalgamation, UBL will issue shares to the shareholders of CBPL in the following ratio:
17 (Seventeen) fully paid equity share of UBL of Re 1 (Rupee One) each for every 30 (Thirty) fully paid equity shares of CBPL of Rs. 10 (Rupees Ten) each.