An offer by listed brewer East African Breweries Limited (EABL) to buy out minority shareholders in its Ugandan subsidiary fell short of the target, realising just 7.9 percent of the 2.18 million shares that it had hoped to buy.
The company said it received sale offers of only 151,156 shares of Uganda Breweries Limited (UBL), meaning most of the small owners opted to sit out the transaction. EABL will pay Sh30.17 million for these shares.
