Global brewing major Sabmiller PLC today acquired 50% stake of Shaw Wallace group in the brewing operations of their joint venture, Shaw Wallace Breweries.The acquisition has been done through Sabmiller's Indian subsidiary, Mysore Breweries for an undisclosed sum.With the acquisition of the 50% stake, Mysore Breweries now controls 99% stake in the joint venture which was formed in 2003 with the rest of shares held by third party minority investors.The acquisition is a part of Sabmiller's consolidation strategy in the Indian beer market."Beer consumption in India remains around 1 litre per person per year as against 20 litres in comparable developing markets. With the GDP growing over 6%, India has the economic potential to be a leading beer market and Sabmiller is well placed to benefit from this growth," Sabmiller Africa and Asia managing director Andre Parker said in a statement from Johannesburg.Sabmiller had invested $132.8 million for its stake in the 50:50 joint venture with the Shaw Wallace group.
