• About Us
  • Contact
Wednesday, March 22, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Investment

British firm Diageo seeks Sh22.7bn extra stake in EABL

by Editor
15/10/2022
in Investment
0
British firm Diageo seeks Sh22.7bn extra stake in EABL
Share on FacebookShare on Twitter

British multinational Diageo is seeking to acquire an additional 14.97 percent stake in East African Breweries Limited (EABL) worth about Sh22.7 billion, which will see its shareholding rise to 65 percent.

The world’s largest spirits maker said Friday it wants to buy 118.4 million shares at an offer price of Sh192 each, a 40 percent premium over the market price.

The stock closed at Sh138 on Thursday at the Nairobi Securities Exchange (NSE). The announcement saw the stock price trading at Sh170 as at 2.05 pm Friday.

The London-based firm indirectly holds a 50.03 percent stake, representing 395.6 million shares, in EABL through its wholly-owned subsidiary Diageo Kenya. PHOTO / COURTESY.

“Diageo Kenya proposes to acquire up to an additional 118,394,897 ordinary shares in EABL representing no more than 14.97 percent of the issued share capital of the EABL through the tender offer,” reads the statement.

The London-based firm indirectly holds a 50.03 percent stake, representing 395.6 million shares, in EABL through its wholly-owned subsidiary Diageo Kenya.

The British drinks group has been increasing its stakes in African breweries following an increase in the consumption of beer and spirits. Last year, the firm acquired an additional 30 percent stake in EABL’s Tanzanian subsidiary, Serengeti Breweries Limited, for Sh5.98 billion, raising its ownership to 85 percent.

SOURCE: BUSINESS DAILY

Editor

Editor

Next Post
Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 – IMF

Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 - IMF

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 22 Mar.

Recommended

Tanzania’s banking sector remained resilient last year; total assets hit 28.4bn/- says BoT

Tanzania’s banking sector remained resilient last year; total assets hit 28.4bn/- says BoT

6 months ago
Meliá Hotels announces extending footprint to 14 new markets including Tanzania

Meliá Hotels announces extending footprint to 14 new markets including Tanzania

2 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili