AFRICA: Diageo EABL begins Tanzania Breweries stake handover
In 2010, East African Breweries (EABL) agreed to dispose of the 20% stake in order to gain regulatory clearance to buy 51% of Serengeti Breweries, which is Tanzania's second largest brewer by volume, behind Tanzania Breweries. "The public offer for the Tanzania Breweries stake has closed but the share allocation process is ongoing," a spokesperson for Diageo told just-drinks today (21 December).
The move is part of a broader strategy by SABMiller and Diageo to disentangle their operations in East Africa. Last month, the Diageo spokesperson said, EABL completed its acquisition of a 20% in Kenya Breweries from SABMiller. That deal gives EABL full ownership of Kenya Breweries, significantly reducing SABMiller's reach in Kenya in the short-term.
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