Vijay Mallya promoted UB Group and the Netherlands-based Heineken Group today said they have

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reached an agreement whereby the Dutch firm will operate in India only through United Breweries Ltd (UBL).

"The two have agreed upon the key commercial terms for the production of the 'Heineken' brand in India," the UB Group said in a statement.

The two groups were locked in a dispute over holdings of Heineken in Mallya's competitor, Asia Pacific Breweries (APB).

The Dutch firm holds 37.5 per cent in UBL.

"The Vijay Mallya Group, Heineken and UBL have today entered into a new shareholders agreement and thereby have resolved their differences amicably. Consequently the litigations initiated inter se will be withdrawn," the UB Group said. .