Heineken seeks to oust indebted Kingfisher

Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1bn , to step down from the board of United Breweries, India’s largest brewer.

Sources said such a move would likely be a prelude to the Dutch drinks firm raising its stake in the maker of Kingfisher beer to above 50%, betting on a small but fast-growing beer market.

Heineken acquired a 37.5% stake in United Breweries in 2008 through its takeover of Scottish & Newcastle and has since increased its holding to 42.4%.