Sunday, April 14, 2024
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.

[speaker]
- Advertisement -

Video from Enat Bank Youtube Channel.

Subscribe

- Advertisement -

Popular

More like this
Related

‘Top secret’ talks underway to mediate Ethiopia, Somalia on MoU saga

Presidents Ismail Omar Guelleh and William Ruto are facilitating...

Investment board lays groundwork for trade business liberalization

Petroleum, fertilizer imports to remain off limits Under the leadership...

Ethiopia reinstatement uncertain as US senators push for AGOA reauthorization

Lawmakers in Washington are pushing a bill that would...

Mass killings becoming “shockingly common” in Ethiopia: Amnesty International

The recent killing of Bate Urgessa, a member of...