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Diageo kicks off Sh22.7bn EABL stake raise
East African Breweries Limited (EABL) CEO Jane Karuku during the release of the brewer’s half-year to December on January 27, 2023. Looking in is the EABL chairman Martin Oduor-Otieno. PHOTO | DIANA NGILA | NMG
British multinational Diageo has kicked off the first phase of its plan to buy an additional 118.4 million shares in East African Breweries Plc (EABL), with priority for allocation given to investors who were on the firm’s books by January 16.
The offer, which will see EABL shareholders bid to sell their shares to the multinational at the Nairobi Securities Exchange (NSE) at a price of Sh192 per unit, is running in two phases between February 6 and February 24, and between February 27 and March 17, 2023.
