<p> Liquor baron Vijay Mallya-led UB Group has decided to infuse $2 million in a US-based loss making firm Mendocino Brewing Company to revive its fortunes.<br /><br /></p>.<p>UB Group has also agreed to “favourably consider additional investment to underpin growth based on detailed business plan to be submitted in due course” by Mendocino, the company said in a regulatory filing here.<br /><br />UB’s readiness to invest in the US firm comes even as the group’s Kingfisher Airlines in India remains grounded for over a year due to severe financial problems.<br /><br />Mendocino Brewing Company (MBC), in which United Breweries Holdings Ltd (UBHL) holds 68.1 per cent stake and another group firm United Breweries of America has 24.5 per cent equity, has exclusive licence to brew and distribute Kingfisher Premium Lager beer in certain foreign markets.<br /><br />UBHL is also the holding company of all the listed entities of Mallya-led UB Group, including Kingfisher, a statement said.<br /></p>
<p> Liquor baron Vijay Mallya-led UB Group has decided to infuse $2 million in a US-based loss making firm Mendocino Brewing Company to revive its fortunes.<br /><br /></p>.<p>UB Group has also agreed to “favourably consider additional investment to underpin growth based on detailed business plan to be submitted in due course” by Mendocino, the company said in a regulatory filing here.<br /><br />UB’s readiness to invest in the US firm comes even as the group’s Kingfisher Airlines in India remains grounded for over a year due to severe financial problems.<br /><br />Mendocino Brewing Company (MBC), in which United Breweries Holdings Ltd (UBHL) holds 68.1 per cent stake and another group firm United Breweries of America has 24.5 per cent equity, has exclusive licence to brew and distribute Kingfisher Premium Lager beer in certain foreign markets.<br /><br />UBHL is also the holding company of all the listed entities of Mallya-led UB Group, including Kingfisher, a statement said.<br /></p>