Thursday, December 7, 2023
BusinessCastel announces acquisition of Zebidar’s controlling stake

Castel announces acquisition of Zebidar’s controlling stake

Castel Group has announced on Saturday that it has finalized the acquisition of 58 percent of Zebidar Brewery S.C. in a deal concluded with Unibra S.A. But, the deal needs the approval of COMESA’s trade commission.

Starting March 28, 2018, Zebidar has officially joined other four breweries under the Castel Group in Ethiopia. The acquisition of Zebidar is said to be instrumental for Castele to reinforce its presence in Ethiopia and to consolidate its activities in the South and West regions.

The Castel Group has been present in Ethiopia for many years and the current acquisition is an indication of its strategy to expand its activities in Ethiopia further, experts said.

The remaining shares of Zebidar Brewery S.C. are owned by Zhmar S.C. which in turn has more than 2,000 shareholders under it.

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