LONDON (dpa-AFX) - Alcoholic beverage company Diageo Plc (DGE.L) said Friday that it plans to increase its equity stake in East African Breweries Plc up to 65% through a partial tender offer made to other shareholders of East African Breweries.
The company stated that Diageo Kenya currently holds 50.03% of the issued share capital of East African Breweries.
Diageo Kenya does not intend to make a takeover offer for East African Breweries and will apply to the Capital Markets Authority in Kenya for an exemption from complying with the requirement to make a takeover offer, Diageo said.
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