EABL allocates KSh300m to Top up Serengeti shares

EABL has allocated Sh300million to Serengeti to obtain 4% extra stake in Serengeti Breweries Limited (SBL), inflating its ownership in the Tanzanian Subsidiary.

Serengeti, convincing subsidiary for EABL, has being in accounts of 12% of all the sales last year in spite of the hiked net sales at 20% finalizing EABL 4%share purchase for Sh300m July last year.

This hiked Diageo’s shareholding, Serengeti, on a range of 1%, from 40.2% to 39.2% fueled by growth in spirits and beers.

Beer net sales grew by 10% led by strong growth in Serengeti in Tanzania, Senator in Kenya and launch of Guinness Smooth in Kenya and Diageo.

Conversion of Sh15.3billion loan by EABL to Serengeti to lower their loan burden activated the stakeholder relations that led to a rise of 21.5% stake.

EABL has asked Serengeti’s minority investors to do extra funding of Sh3.2billion to the company

This creates impressive information to both companies who aspires to expand their production and also increment their shares courtesy of their stakeholder relations vitalization.