Addis Ababa, Ethiopia (24 April 2022)
The global leader in beverage alcohol, Diageo, had entered into an agreement for the sale of Meta Abo Brewery (the brewery it bought in Sebeta from Ethiopia’s government for $225 Mn in 2012) to a part of the Castle Group, BGI, in January of this year. The sale, although its proceeds have been unspecified, had been awaiting the approval of the Ethiopian Competition Commission until now.
BGI Ethiopia PLC announced three days ago on LinkedIn that the deal had been approved by the Ethiopian Trade Competition and Consumer Protection Authority (TCCPA). The Mayor of Sebeta, Alfiya Abdu, has stated her confidence in BGI’s ability to restore Meta to its previous glory. This acquisition is also expected to increase the brewery’s production capacity from 5,200,000 to 6,400,000 hectoliters (HL), as well as save jobs and boost economic activity in the town of Sebeta.
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