MUMBAI (Reuters) - The chairman of United Breweries (UBBW.BO: Quote, Profile, Research), India's biggest beer maker, said he would be keen to buy the 37.5 percent stake Heineken (HEIN.AS: Quote, Profile, Research) will soon own in the firm, the Economic Times said on Friday.

"If you ask me whether I would buy them (Heineken) back, my answer is at today's price, sure I am a buyer," the paper quoted Vijay Mallya as saying. Mallya is also chairman of the UB Group, which owns 37.5 percent of United Breweries, the maker of Kingfisher beer.

Amsterdam-based brewer Heineken will get the stake in United Breweries from Scottish & Newcastle, which it and Denmark's Carlsberg (CARLb.CO: Quote, Profile, Research) agreed to buy in January. The deal is yet to be completed.

"Heineken looks forward to a potential co-operation with Mr Mallya and we are in discussions with him and our partner in Asia. It is however, too early to say more," the paper quoted a Heineken spokesperson as saying in an emailed statement.

The paper valued the stake at 14.25 billion rupees ($355 million), based on current market prices.

United Breweries shares closed at 176.05 on Thursday, more than 50 percent below its 2008 high of 385 rupees.

($1=40.1 Indian rupees)

(Reporting by Narayanan Somasundaram; Editing by John Mair)