E-Malt.com News article: Ethiopia: Diageo to begin the takeover of Meta Abo Brewery from next week

Diageo is to begin the take over process at Meta Abo Brewery, Ethiopia. The International distiller arranged for the transfer with Ethiopian Privatization and Public Enterprises Supervising Agency at the end of November, Capital reported on December, 9.

The transfer process is expected to take three weeks commencing from December, 12, said Brook Worku, Country Representative for Diageo.

Diageo will conclude the final payment as per the agreement reached with PPESA, according to Brook.

It was reported earlier this week that the newly appointed head of Diageo’s African Regional markets, Ekwunife Okoli is to oversee the conclusion the of transaction for Meta Abo.

Diageo plans to increase the market share of Meta Beer after takeover. Diageo brands that used to be imported will be produced here in time, according to Diageo officials.

It is to be remembered that Diageo bought Meta Abo, a state-owned brewery, for 225 million dollars.

Late in August the Ethiopian government had floated an auction for Meta Abo Brewery weeks after Bedele and Harar breweries were sold to Heineken. British, Dutch and South African breweries had also placed bids for the Meta Abo Brewery.

The board of PPESA, chaired by Aster Mamo, government whip accepted the offer made by Diageo as the highest bid at the public auction.

Diageo is the world's largest producer of spirits and a major producer of beer and wine. Its brands include Smirnoff (vodka), Johnnie Walker (scotch whisky), José Cuervo (tequila), Baileys (liqueur) and Guinness (stout).


09 December, 2011