Investment company Centum has revealed that it has finalized the agreement to sell all its shares in Kings Beverage Limited to Danish Brewing Company East Africa Limited.
Centum holds 100% ownership in King Beverage Limited.
Kings Beverage is famously known for the distribution of Carlsberg beer, Tuborg throughout the East African region.
In June this year, Centum concluded a similar deal where it sold its stake in Almasi Beverages Limited (“ABL”) and Nairobi Bottlers Limited (“NBL”) respectively to Coca-Cola Sabco East Africa Limited, a subsidiary of Coca-Cola Beverages Africa.
The investment firm says it incurred a KSh370 million loss from the sale of the beverage distributing company. Centum’s investment in King Beverage amounted to KSh500 million. The company received KSh130 million from Danish Brewing Company EA Limited, the buyer of Kings Beverage.