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Diageo’s Kenyan unit calls Tusker beer sale report ‘market speculation

Diageo’s Kenyan unit calls Tusker beer sale report ‘market speculation

East African Breweries (EABL), the Kenyan unit of Diageo Plc, dismissed a media report that its parent company wants to sell the Tusker beer brand as part of broader cuts. U.S. news outlet Axios reported last month that Diageo was looking to sell Tusker along with other beer brands including Ireland-based Smithwick's, Kilkenny and Harp Lager, saying they were a margin drag on the rest of the business. But in an interview with Reuters EABL CEO Jane Karuku denied the brand would be sold. "Those are market speculations," she said, declining to comment further. There was no immediate comment from Diageo on…
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Diageo seeks to raise its stake in Kenyan brewer EABL, to keep listing

Diageo seeks to raise its stake in Kenyan brewer EABL, to keep listing

DIAGEO Plc, the world's largest spirits maker, has offered to buy additional shares in Kenya's East African Breweries to boost its stake by a third to 65%, it said. Diageo is offering to buy 118.39 million shares at 192 shillings ($1.59) each, the multinational drinks group said in a statement, amounting to a 40% premium over the market price. The offer closes on March 10, next year, Diageo said, adding that it will not seek to take over the entire company should it attain its desired level of ownership, and it will keep the company listed. Diageo has been seeking to…
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