CHANGE OF OWNERSHIP

Centum sells 100% of alcohol firm to Danish EA

King Beverage has been the distributor of global brand, Carlsberg beer since 2016 in East Africa.

In Summary

• Centum Investment Company has announced the completion of the sale of 100 per cent stake in King Beverage Limited to Danish Brewing Company E.A Limited, a subsidiary of Bounty Global Management DWC LLC.

Centum CEO James Mworia.
Centum CEO James Mworia.
Image: FILE

Centum Investment Company has offloaded its entire stake in King Beverage Limited to Danish Brewing Company E.A Limited, a subsidiary of Bounty Global Management DWC LLC.

“Centum held 100 per cent of the issued shares of the King Beverage Limited which is in the business of sale and distribution of various alcoholic beverages,” chief executive James Mworia said in a statement.

King Beverage has been the distributor of the global brand, Carlsberg beer in East Africa since 2016 .

In June, the Nairobi Securities Exchange-listed company announced it had entered into an agreement to sell its stakes in Almasi Beverages Limited and Nairobi Bottlers, with a total valuation of Sh9.5 billion ($192.5 million) to Coca Cola Beverages Africa.

Danish Brewing Company E.A limited is a private limited liability company incorporated in Kenya.