Centum sells 100pc stake in distributor of Carlsberg, TuborgAugust 19, 2019
NAIROBI, Kenya, Aug 19 – Centum Investment has offloaded its shareholding in King Beverage Limited to Danish Brewing East Africa Limited, a subsidiary of Bounty Global Management firm.
The sale comes two months after the company announced it was selling all its shares in Almasi Beverages Limited (ABL) and Nairobi Bottlers (NBL) for Sh19.5 billion.
Centum Investment Group CEO James Mworia confirmed the sale of its entire stake in King Beverage, which is valued at an estimated Sh471 million.
King Beverages exclusively sells and distributes Carlsberg Brands and selected Edrington and Grays Spirits in Kenya.
Its beers include Carlsberg, Tuborg, New Grove and Jim Beam among others.
Centum has raised roughly Sh36.3 billon through partial or full exits in its investment portfolios in the past five years, leading to Sh24.3 billion capital gains.
“The balance of the proceeds will be invested in our private equity and marketable securities portfolios,” Mworia said of the ABL and NBL sale.