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Article: Cobra Beer bought over by Molson Coors in a JV deal H S Rao London, May 30 (PTI) -- Cobra Beer, which has been facing mounting losses, has been bought over by UK's Molson Coors, one of top brewers in the world by volume, in a joint venture deal with its NRI-founder Karan Bilimoria.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- May 30, 2009
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COBRA
Cobra Beer bought over by Molson Coors in a JV deal H S Rao London, May 30 (PTI) -- Cobra Beer, which has been facing mounting losses, has been bought over by UK's Molson Coors, one of top brewers in the world by volume, in a joint venture deal with its NRI-founder Karan Bilimoria.
Revealing the "pre-pack" deal with Molson Coors, Bilimoria told PTI that Cobra Beer's Indian business would be an independent company which would be wholly owned and financed by its shareholders.
The new JV would be owned 50.1 per cent by Molson Coors and 49.9 per cent by the new company controlled by Bilimoria, who would be its Chairman.
"While I am ...