Diageo buys out SAB in Kenya
Tuesday 07 June 2011
Diageo has agreed to buy out SABMiller's 20 per cent stake in its Kenyan unit for 19.5bn Kenyan shillings (£137m) through its East African Breweries unit.
As part of a wider deal to undo their reciprocal marketing ties Diageo is to also sell its own 20 per cent stake in neighbouring Tanzania Breweries through a public offer.
East African Breweries and SABMiller entered a deal some 10 years ago that allowed SABMiller to sell EAB brands such as Tusker beer through Tanzania Breweries in Tanzania, with EAB reciprocating and brewing and marketing SABMiller products such as Castle Lager in Kenya.
In late 2010, EAB acquired a 51 per cent stake in another Tanzanian brewer, Serengeti Breweries, at a cost of $60m.
The brewer says the Kenya Breweries plant has a total brewing capacity of 2,500,000 hectolitres per year.
Olympic diver has made his modelling debut for Adidas
- 2 Isis release 'Flames of War' video warning Obama of attacks troops could face in Iraq
- 3 Pakistani passenger power forces two politicians off plane
- 4 Say yes to 'no-poo': It's been three years since I stopped washing my hair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
£20000 - £25000 per annum + OTE £35,000 first year: SThree: The SThree group i...
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...