The Karan Billimoria-promoted Cobra Beer acquired a controlling stake in Iceberg Industries, a leading brewery based out of Bihar which manufactures Fosters beer..In the first stage of this back-to-back transaction, Krrish Infrastructure and Brahma Capital acquired 25 percent equity in Cobra India making it a joint venture between Krrish, Brahma and Lord Bilimoria..In the second stage, Cobra India acquired 76 percent of the equity in the Katyal family owned brewery, with Amit Katyal retaining a 12 percent in Iceberg. Brahma Capital acquired the remaining 12 percent..The total consideration that passed hands for the purchase of 50 percent in Cobra India was £7.5 million (Rs. 56 crore). The 76 percent in Iceberg, meanwhile cost and for the purchase of 76 percent in Iceberg cost £2.5 million (Rs. 19 crore)..This acquisition by Cobra confirms founder-Chairman Lord Bilimoria’s intention to become a key player in the Indian beer market. Established 1989, Cobra Beer is one of the UK’s fastest growing beer brands. Cobra recently entered into a joint venture with Molson Coors and the joint venture entity, Cobra Beer Partnership Limited, now owns the Cobra Brand..AZB & Partners’ Mumbai office led by partners Hardeep Sachdeva and Essaji Vahanvati advised Brahma Capital and Krrish Infrastructure. They also advised Cobra India in its acquisition of 76 percent in Iceberg. ALMT Legal advised Iceberg while Herbert Smith’s London office advised Molson Coors..Cobra will likely face strong competition from the Vijay Mallya owned United Breweries Group, whose flagship beer, Kingfisher, has been India’s beverage of choice.
The Karan Billimoria-promoted Cobra Beer acquired a controlling stake in Iceberg Industries, a leading brewery based out of Bihar which manufactures Fosters beer..In the first stage of this back-to-back transaction, Krrish Infrastructure and Brahma Capital acquired 25 percent equity in Cobra India making it a joint venture between Krrish, Brahma and Lord Bilimoria..In the second stage, Cobra India acquired 76 percent of the equity in the Katyal family owned brewery, with Amit Katyal retaining a 12 percent in Iceberg. Brahma Capital acquired the remaining 12 percent..The total consideration that passed hands for the purchase of 50 percent in Cobra India was £7.5 million (Rs. 56 crore). The 76 percent in Iceberg, meanwhile cost and for the purchase of 76 percent in Iceberg cost £2.5 million (Rs. 19 crore)..This acquisition by Cobra confirms founder-Chairman Lord Bilimoria’s intention to become a key player in the Indian beer market. Established 1989, Cobra Beer is one of the UK’s fastest growing beer brands. Cobra recently entered into a joint venture with Molson Coors and the joint venture entity, Cobra Beer Partnership Limited, now owns the Cobra Brand..AZB & Partners’ Mumbai office led by partners Hardeep Sachdeva and Essaji Vahanvati advised Brahma Capital and Krrish Infrastructure. They also advised Cobra India in its acquisition of 76 percent in Iceberg. ALMT Legal advised Iceberg while Herbert Smith’s London office advised Molson Coors..Cobra will likely face strong competition from the Vijay Mallya owned United Breweries Group, whose flagship beer, Kingfisher, has been India’s beverage of choice.
