Kenya, Uganda & Tanzania: Diageo completes partial tender offer to increase stake in East African Breweries

Diageo, through its wholly-owned indirect subsidiary Diageo Kenya Limited (“Diageo Kenya”), is pleased to announce that it has successfully completed the partial tender offer to increase its aggregate equity stake in East African Breweries PLC (“EABL”) from the current 50.03% to 65% (the “Tender Offer”).

Noting that the Tender Offer was oversubscribed, Diageo Kenya applied the scale-down mechanism, specified in the Tender Offer Document, to purchase a pro-rata proportion of the shares that were tendered.

EABL is a regional leader in beverage alcohol with an exceptional collection of brands across beer and spirits. Although the business is concentrated on three core markets of Kenya, Uganda and Tanzania, its products are sold in more than 10 countries across Africa and beyond. These include among others Tusker, Guinness, Bell Lager, Serengeti Lager, Kenya Cane, Chrome Vodka, Johnnie Walker, Captain Morgan and Smirnoff. EABL’s ambition is to be one of the best performing, most trusted and respected consumer products companies in Africa.

Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company whose products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).

26 March, 2023