Diageo Submits Highest Offer for Ethiopia’s Meta Brewery, Fortune Reports

Post published:05/09/2011
Reading time:1 min(s) read

Diageo Plc (DGE), the world’s biggest liquor maker, submitted the highest bid for Ethiopia’s state- owned Meta Abo Brewery, the Addis Fortune reported.

Diageo offered $225 million, SABMiller Plc with SouthWest Development bid $190 million, and Amsterdam-based Heineken NV (HEIA) offered $188 million, the Addis Ababa-based newspaper said, citing the Privatization and Public Enterprise Supervising Agency.

Meta is the third-largest brewer in Ethiopia with a 15 percent market share, Addis Fortune said. It will be the last brewery to be sold to private investors following the sales of Bedele and Harar breweries to Heineken in May, the newspaper said.

Tags: M&A in beer industry

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