EABL ownership in Serengeti Breweries to be watered down

Kenya's EABL to convert Tanzania unit loan into equity

Reuters Staff

NAIROBI, July 28 (Reuters) - Kenya's East African Breweries Ltd (EABL) said on Friday it would convert a loan to its Tanzanian business into equity, after reaching a settlement with the competition authority that had been investigating the transaction.

Tanzania's Fair Competition Commission (FCC) threatened to revoke EABL's 51 percent stake in Serengeti Breweries in 2015, accusing the Kenyan firm of not meeting several conditions. It did not make those conditions public.

"In early June, we managed to close and settle that matter," Gyorgy Geiszl, EABL's finance director, told a news conference, without giving a value for the loan.

EABL, a unit of Britain's Diageo, made a provision in its financial year ending June 2016 to settle the issue so its figures for the year to June 2017 would not be hit, he said.

Geiszl said the settlement would allow EABL to "complete this capital restructuring, convert our loan to the company into equity, restore its equity position and profitability."

He did not say what impact converting the loan would have on the size of EABL's equity stake in Serengeti.

Serengeti, which contributed 9 percent to EABL's group sales of 70.25 billion shillings ($676.46 million) in the year to June 2017, had a 28 percent share of the market, according to 2015 figures. Its sales dropped 13 percent in its latest financial year.

EABL said it saw opportunities in the market in the medium term, while the settlement and capital restructuring would help the firm focus on boosting sales.

$1 = 103.8500 Kenyan shillings Reporting by Duncan Miriri; Editing by Edmund Blair

Kenya's EABL to convert Tanzania unit loan into equity


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This was the biggest mistake for Fair competition commission to allow EABL to buy Serengeti Breweries after killing Kibo Breweries before. Serengeti beer market share was nearly 30% now is around 10%!

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I keep repeating this to all Tanzanians, when it comes to business..... Never trust Kenyans.

Ni upuuzi wa hali ya juu kuwauzia viwanda vyetu ama biashara zetu. Serengeti beer ilikuwa unafanya vizuri kabla ya kuanza kulazimisha mi-Tusker yao. Wao vya kwao wanaviuwa sasa inakuwaje kuwapa vyetu?

The Son of Man said:

I keep repeating this to all Tanzanians, when it comes to business..... Never trust Kenyans.

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Manyangau hayo

Sijui ni genius gani anayeruhusu huu upuuzi,
Hivi hawa vijana wa TISS,wapo wapi?wanafikili kazi yao ni kun'goa kucha na meno tu,hii ni Economic warfare,and sabotage,kama hatuzalishi,tutapata wapi pesa za kigeni'

Serikali iwanyang'anye EABL Serengeti Breweries kabla viwanda vyake havijaanza kufungwa kimoja baada ya kingine.

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Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

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Speak for yourself

chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

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Sio kosa lao ni matokeo ya UJAMAA NA KUJITEGEMEA , Sababu uliuwa kabisa UJASRIAMALI mkauiita ubepari hayo ndio matokeo myakubali hata hiyo mikataba fake/madini chanzo watanzania hawana kabisa ENTREPRENEURSHIP vichwani

chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

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Wewe ni Mkikuyu sio?au na wewe ni Mtanzania kama unaowatukana. ..umefanya nini wewe ambae si mjinga. ..Hao unaowasifia ndio wapuuz wa mwsho kwa taarifa yako Kenya ipo kwenye top 3 ya Corrupt countries dunian. ..ukwepaji kodi ni vitu vya kawaida na asilimia 90% ya wananchi ni Maskini wa kutopea uchumi umeshkwa na Mama Ngina family and Co. ..hao ndio wajanja unaowasifia endelea kusfia upuuz

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chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

Click to expand...

Anza kwanza kwa kusema mabwana zenu Waingereza wanaomiliki makampuni ya Kenya ndio wenye akili kwani wanawafanya ninyi masikini wa Kenya kujivunia vile msivyomiliki mkabakia kuishi kwenye makazi duni na machafu kama ya Mathare na Kibera. Hizo ndio 100% ya akili zenu.
By the way SBL has never be a government plant. Hii ilianzishwa na wageni toka Ulaya na ndio mabwana zenu wakabunua share kwa kupitia kampuni yao ya EABL

The Son of Man said:

I keep repeating this to all Tanzanians, when it comes to business..... Never trust Kenyans.

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Especially those uk middlemen and other inetrnatiinal coin agents stationed in their country.

Zanika said:

Anza kwanza kwa kusema mabwana zenu Waingereza wanaomiliki makampuni ya Kenya ndio wenye akili kwani wanawafanya ninyi masikini wa Kenya kujivunia vile msivyomiliki mkabakia kuishi kwenye makazi duni na machafu kama ya Mathare na Kibera. Hizo ndio 100% ya akili zenu.
By the way SBL has never be a government plant. Hii ilianzishwa na wageni toka Ulaya na ndio mabwana zenu wakabunua share kwa kupitia kampuni yao ya EABL

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You're just as dumb as a 10yr child.... I will not stoop so low to answer your ignorance

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mlete mada wenyewe kisha muanze kutukanana wenyewe...wacha tukae pembeni tuwaangalie

either mleta mada ana matatizo ya akili au hakusoma literature. why not give the threads name to the original of the title given by the article instead of twisting it to your own hallucinations?
and who is this 'watering down' the EABL's ownership???

Zanika said:

Anza kwanza kwa kusema mabwana zenu Waingereza wanaomiliki makampuni ya Kenya ndio wenye akili kwani wanawafanya ninyi masikini wa Kenya kujivunia vile msivyomiliki mkabakia kuishi kwenye makazi duni na machafu kama ya Mathare na Kibera. Hizo ndio 100% ya akili zenu.
By the way SBL has never be a government plant. Hii ilianzishwa na wageni toka Ulaya na ndio mabwana zenu wakabunua share kwa kupitia kampuni yao ya EABL

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lakini makampuni ya Kenya yamejaa tanzania.....

chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

Click to expand...

.....kinembe wewe !

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chinembe said:

Wakenya wana akili kuliko watanzania,watanzania vichwani wamejaa utumbo tu,ni majitu ya hovyo hovyo tu yanayosubiri kila kitu yafanyiwe NA serikali,hayana ubunifu,mavivu,yana wivu

Nchi yao kubwa lakini ni kama ukubwa wa wale wanaoumwa ugonjwa wa vichwa kujaa maji,ukubwa wa pua makamasi kiduchu

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Kwani hiyo company ni ya wakenya basi?
Hiyo company sio ya nyang'au kama wengi wanavyoamini hapa

Lewis254 said:

lakini makampuni ya Kenya yamejaa tanzania.....

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Nikikutajia company zilizosajiliwa Tanzania kutoka Kenya 80% ni za wazungu wala sio manyang'au moja ikiwa hii EABL nyingine ni Barclay's Africa, Unilever, Standard Chartered hizi ni companies za makaburu ilikua ni ngumu kwao kuja na usajili wa SA kutokana na msimamo wa Mwalimu Nyerere na Tanzania dhidi ya makaburu so don't get twisted.

Company nyingine kama Diamond Trust, Nation Media etc haya ni companies za wageni ambazo zimechukua origin of ownership kuwa Kenya ili kuenjoy East African Community benefits kwa companies of partner states and nothing serious.