Thursday, May 05, 2011

Heineken to take over Ethiopian breweries

Amsterdam, 5 May 2011 - Heineken N.V. today announced that the government of the Federal Democratic Republic of Ethiopia has named the company as the preferred bidder for the Bedele and Harar breweries

The Ethiopian government says Heineken is its preferred bidder to take over two formally state-owned breweries, the Dutch beer group said on Thursday.

Heineken has offered €57m for the Bedele brewery and €52.4m for Harar. The two have combined local market share of 18%.



Heineken will now work with the government to finalise the transaction.  The decision follows Heineken's participation in the public auction for the two breweries.
  
In addition to a fast growing population and a developing beer market, the country's political stability and improving economy, make Ethiopia a promising, long-term growth market for Heineken in Africa.
Source: Dutch news

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