TANZANIA: Diageo's EABL cleared for Serengeti Breweries stake - report
Diageo's EABL goes it alone in Tanzania
Diageo's East African Breweries Ltd has been cleared by Tanzania's competition watchdog to acquire control of Serengeti Breweries in the country, according to a report.
East African Breweries Ltd (EABL) will acquire a 51% stake in Serengeti following clearance from Tanzania's antitrust regulator, a local Bloomberg report said late last week.
EABL last year announced a plan to dispose of a 20% stake in the country's leading brewer, SABMiller-controlled Tanzania Breweries, and invest in a "significant" stake in Serengeti Breweries.
Serengeti has seen its volume market share rise by 10% to reach 17% in the last three years, according to Diageo.
Its EABL unit agreed a settlement with SABMiller earlier this year, enabling it to break ties with Tanzania Breweries.
Last month, SABMiller said that volume sales fell by 4% in Tanzania for the three months to the end of June, due to the loss of a contract to brew and supply EABL beers in the country.
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