East African Breweries Limited (EABL) has announced plans to acquire an additional 30% stake in Tanzania’s Serengeti Breweries Limited (SBL).
However, the transaction is still subject to approval by regulatory bodies in Kenya and Tanzania.
EABL has warned investors and the general public to exercise caution while trading their shares due to the pending deal.
Serengeti Breweries Limited is the second-largest beer producer in Tanzania, with its own brands taking 15% of the market by volume and when combined with EABL’s portfolio, accounts for approximately 28% of the Tanzanian branded beer sector.
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