Ratio Magazine :: The Inside Track to East Africa’s Economies - KENYA: Press Releases: EABL to Acquire SABMiller Shares in Kenya Breweries

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KENYA: Press Releases: EABL to Acquire SABMiller Shares in Kenya Breweries

Tuesday, 07 June 2011

East Africa Breweries Limited ( EABL) today announces that it has agreed to purchase all SABMiller Africa BV’s 20% shareholding in Kenya Breweries Limited (KBL) for cash consolidation of the US dollar equivalent of KES19,528,062,600, subject to disposal of its 20% shareholding in Tanzania Breweries Ltd by way of public offer.

KBL has also agreed to terminate a Brewing and Distribution agreement with SABMiller International BV and will cease to distribute SABMiller’s brands in Kenya after a short transitional period. EABL is also continuing to work on a sale process for its 20% shareholding in Tanzania Breweries Limited.

Pending further announcements regarding these matters, shareholders of EABL and other investors are advised to exercise caution when dealing I EABL’s ordinary share on the Nairobi Stock Exchange, the Dar es Salaam Stock Exchange and the Ugandan Securities Exchange.

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