Diageo agrees to buy Ethiopia's state-owned Meta Abo Brewery for US$225M, outbidding SABMiller and Heineken
October 4, 2011
– 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.