East African Breweries Limited #ticker:EABL has completed acquisition of additional 30 percent stake in Tanzanian subsidiary for $55 million (Sh5.98 billion), raising its ownership to 85 percent.
EABL, majority-owned by UK’s Diageo, had disclosed plan to increase its stake in Serengeti Breweries in March 2020 after identifying the Tanzanian market as promising for growth of beer and spirits business.
