Diageo agrees to buy Ethiopia's state-owned Meta Abo Brewery for US$225M, outbidding SABMiller and Heineken
Nevin Barich
LOS ANGELES
,
October 4, 2011
(Industry Intelligence)
–
The world’s largest distiller, Diageo Plc, has agreed on a US$225 million deal to buy Ethiopia’s state-owned Meta Abo Brewery, Bloomberg reported Oct. 3.
Diageo, which makes Guinness stout, outbid SABMiller Plc ($190 million) and Heineken NV ($188 million). A spokesman for Ethiopia’s Private and Public Enterprises Supervising Agency said that Diageo will expand Meta Abo and introduce new products.
Meta Abo is the last of Ethiopia’s state-owned brewing assets to be sold. Back in May, Heineken bought two beer makers in the country for about $160 million.
The primary source of this article is Bloomberg, New York, New York, on Oct. 3, 2011.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
