Invisible
Robot
- Feb 11, 2006
- 9,075
- 7,878
By Eric Ombok
Feb. 25, 2010 (Bloomberg)
SABMiller Plc, the worlds second-largest brewer, and Diageo-owned East African Breweries Ltd. have today agreed that Tanzania Breweries Ltd. will cease to brew and distribute EABLs brands in Tanzania.
Under the agreement, East African Breweries will continue to brew and distribute SABMiller brands in Kenya, East African Breweries said in a statement in Nairobi-based Daily Nation.
SABMiller and Diageo also agreed to withdraw all claims and counter claims in arbitration in London and not to pursue any further actions in respect of the matters, the statement said.
A dispute between Diageo and SABMiller arose in July after East African Breweries gave notice to end a brewing and distribution contract with its Tanzania Breweries, its local unit and acquire control of Serengeti Breweries Ltd., the second biggest beer-maker in the east African nation.
Diageo has a 50.03 percent stake in East African Breweries Ltd., while SABMiller holds 52.83 percent of Tanzania Breweries. East African Breweries also owns 20 percent of the SABMiller unit.
Feb. 25, 2010 (Bloomberg)
SABMiller Plc, the worlds second-largest brewer, and Diageo-owned East African Breweries Ltd. have today agreed that Tanzania Breweries Ltd. will cease to brew and distribute EABLs brands in Tanzania.
Under the agreement, East African Breweries will continue to brew and distribute SABMiller brands in Kenya, East African Breweries said in a statement in Nairobi-based Daily Nation.
SABMiller and Diageo also agreed to withdraw all claims and counter claims in arbitration in London and not to pursue any further actions in respect of the matters, the statement said.
A dispute between Diageo and SABMiller arose in July after East African Breweries gave notice to end a brewing and distribution contract with its Tanzania Breweries, its local unit and acquire control of Serengeti Breweries Ltd., the second biggest beer-maker in the east African nation.
Diageo has a 50.03 percent stake in East African Breweries Ltd., while SABMiller holds 52.83 percent of Tanzania Breweries. East African Breweries also owns 20 percent of the SABMiller unit.
