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Diageo, through its wholly-owned indirect subsidiary Diageo Kenya Limited, announced on October 14, 2022, its intention to launch a partial tender offer for shares in East African Breweries PLC (EABL). This offer aims to increase Diageo Kenya's equity stake in EABL from its current 50.03% to up to 65% by means of a partial tender offer made to other EABL shareholders.
| Date | 14 Oct 2022 |
| Time | 07:00:03 |
| Category | Capital structure |
| ID | 8578C |
Intention to launch partial tender offer for shares in East African Breweries PLC
14 October, London - Diageo, through its wholly-owned indirect subsidiary, Diageo Kenya Limited ("Diageo Kenya"), announces that it has served notice on East African Breweries PLC ("EABL") of its intention to increase its equity stake in EABL up to 65% by means of a partial tender offer made to other shareholders of EABL. As at the date of this announcement, Diageo Kenya holds 50.03% of the issued share capital of EABL.
EABL, a public limited company incorporated under the laws of Kenya with registration number C. 5/34, is listed on the Main Investment Market Segment of the Nairobi Securities Exchange. Further information in relation to EABL is available on its website at www.eabl.com.
Subject to receipt of the relevant regulatory approvals, details of the proposed partial tender offer will be set out in a tender offer document, which will be made available to shareholders of EABL.
Diageo Kenya does not intend to make a takeover offer for EABL and will apply to the Capital Markets Authority in Kenya for an exemption from complying with the requirement to make a takeover offer.
A copy of this announcement is available at www.diageo.com/en/investors/investor-press-releases.
The announcement today, of the proposal outlined above, does not constitute the announcement of an offer and creates no obligation on Diageo and/or any Diageo subsidiary to make an offer. Accordingly, shareholders in EABL should await further communication from Diageo Kenya.
For further information please contact:
Investor relations:
Durga Doraisamy +44 (0) 7902 126 906
Lucinda Baker +44 (0) 7974 375 550
Andy Ryan +44 (0) 7803 854 842
Media relations:
Dominic Redfearn +44 (0) 7971 977 759
Gina Bell +44 (0) 7731 988 857
About EABL
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 ten countries across Africa and beyond. These include 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.
About Diageo
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). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives and ways to share best practice.
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