SABMiller sells stake in Kenya Breweries
LIQUOR NEWS
Fin24 - Jun 6th 2011, 07:58
Johannesburg - SABMiller on Monday announced that its subsidiary SABMiller Africa has agreed to sell its 20% shareholding in Kenya Breweries to East African Breweries for about $225m in cash.
The sale is subjects to East African Breweries disposing of its 20% shareholding in Tanzania Breweries by way of a public offer through the Dar-es-Salaam Stock Exchange.
SABMiller International has also agreed to terminate a brewing and distribution agreement with Kenya Breweries, which means Kenya Breweries will cease to distribute SABMiller's brands in Kenya after a short transitional period.
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