United Breweries Holdings, the parent company of beleaguered Kingfisher Airlines, issued a statement today about the invocation of collateral pertaining to the recovery process initiated by bankers to the airline for loans worth Rs 7,500 crore.
Shares in all UB Group companies traded sharply lower today with United Breweries Holdings falling 5 per cent. United Breweries traded 1.8 per cent lower at Rs. 631, while Kingfisher Airlines fell by the daily limit of 5 per cent for a second day in a row.
Here is the full text of the statement:
This has reference to the reports in a section of the newspaper/media, relating to recall of loans by lenders by invoking securities including the brand "Kingfisher". We wish to bring to your attention that United Breweries Limited is the owner of brand "Kingfisher" registered under the respective Trademark classes pertaining to alcoholic beverages. The brand "Kingfisher" has not been hypothecated....
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