East African Breweries delays sale
Business Day - Oct 25th 2011, 08:23
SABMiller official confirms delay saying the process was awaiting approval of some documents by parties including Tanzania’s capital markets regulator
Kenyan-based East African Breweries said yesterday that the sale of its 20% stake in SABMiller ’s Tanzanian unit, which was expected to raise 121,5-billion shillings ($70,97m), had been delayed indefinitely.
The sale, which followed East African Breweries’ move to go it alone in the East African region’s second-largest economy through purchase of a controlling stake in Serengeti Breweries, was scheduled to have started yesterday and run to November 11.
East African Breweries said in an advertisement published in the state-run Daily News yesterday that although approval of the Capital Markets and Securities Authority was received on October 17, the public offer would not open without disclosing reasons for the delay.
"East African Breweries will inform the market as soon as a revised timetable for the offer has been agreed and approved."
An SABMiller official confirmed the delay, saying the process was awaiting approval of some documents by all parties involved, including Tanzania’s capital markets regulator.
Bloomberg reported yesterday that Delta Corporation, a Zimbabwean company which is 36,9% owned by SABMiller, said beer sales at its beverages unit increased 30% in the six months to September, citing the Herald as the source.
AB InBev revives its offering for Apac in Hong Kong
01/10/2019 - 11:39
Anheuser-Busch InBev (AB InBev) has revived its failed initial public offering (IPO) in Hong Kong by offering 1.26 billion shares of a minority stake of its Asia Pacific subsidiary, Budweiser Brewing Company Apac, and the world’s largest brewer is hoping to raise $5 billion (R74.4bn) on listing.
Consumers drink while retailers keep the tills active and lights on
10/09/2019 - 11:19
One in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities.
The SA liquor market is changing - these are the new favourites, says expert
21/08/2019 - 09:05
The way South Africans are consuming liquor is changing from traditional, heritage brands to modern, urban, "idiosyncratic" brands, according to Rowan Leibbrandt, founder of fine liquor merchants Truman & Orange.
All women team brew special beer to celebrate Women's Month
05/08/2019 - 10:38
SAB will be launching BOLD BREW– a beer designed and brewed entirely by women– this limited edition small batch beer is exclusively available at the SAB World of Beer in Newtown, Johannesburg.
Autograph Gin wins Best Gin in Africa award
02/05/2019 - 13:56
The International Gin Guide Award, released their awards for 2019 on the 30th of April 2019.