SABMiller sells Kenya Breweries stake for US$225m
SABMiller on Monday, 6 June 2011, announced that its subsidiary SABMiller Africa has agreed to sell its 20% shareholding in Kenya Breweries to East African Breweries for about US$225 million 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.