Diagoe is looking to build stake in East African Breweries
Diageo has moved to increase its stake in East African Breweries, maker of the Tusker beer brand, to up to 65 per cent.
The drinks company has served notice of its intention to increase its current 50.03% equity stake by means of a partial tender to other shareholders of EABL, through subsidiary Diageo Kenya. The company said it does not intend to make an offer for EABL, which is focused on the markets of Kenya, Uganda and Tanzania, and will apply to the Capital Markets Authority to exempt it from having to make a takeover offer.
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