"We are looking to acquire this company over the next few weeks," UB chief Vijay Mallya told reporters in this southern Indian city.

"It will enable United Breweries to get into high quality premium wine which we will import and sell in (the) Indian market. It will also give us access to wine technology of the higest order," Mallya said.

He said the technology will be used to develop Indian vineyards.

Founded 1851, Bouvet-Ladubay was described as one of the most respected wine-producing firms in France's Loire Valley.

Mallya said his firm also was looking at opportunities in Russia, China and South Africa.

"We are already in advanced talks with a significant group in Russia to import their products into India and they will sell our products in Russia," he said. "We are in the preliminary stages of establishing our presence in China."

In May, United Breweries Group, which also has interests in construction and an airline named after its leading beer brand, Kingfisher, shelved plans to buy Taittinger after French regional bank Credit Agricole du Nord Est topped its bid.

"Credit Agricole was the winning bidder. There is a sentiment that champagne assets should remain in France," Mallya said.