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Heineken preferred bidder for two breweries in Ethiopia
Government sells off assets
Tags: Excerpts from the Windmill
ADDIS ABABA, Ethiopia - Giant Dutch brewery Heineken has been named the preferred bidder for the two Ethiopian breweries, Bedele and Harar. The winning bids for the firms were $85 million and $78 million, respectively. Heineken now needs to finalize the transaction. The two state-owned breweries were offered for sale through a public auction.
Heineken said the transaction represents another important step in Heinekenís strategy of increasing its exposure to emerging markets. The Dutch firm sees Ethiopia as one of Africaís most promising beer markets. The move strengthens Heinekenís plan for continued growth in the region.
The two breweries have a combined market share of 18 percent with brands such as Bedele, Harar, Hakim Stout and Harar Sofi (malt).