Beer maker East African Breweries Limited (EABL) #ticker:EABL has borrowed Sh11.5 billion from Kenyan units of Standard Chartered and Stanbic banks to pay off a similar-sized loan taken from its London-based parent Diageo.
The local loan is intended to save the Nairobi Securities Exchange-listed firm an additional tax burden that applies when a subsidiary takes a loan from its parent company.
