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Diageo toasts winning bid for Ethiopia's last state brewery
Diageo has struck a deal to acquire Ethiopia’s last state-owned brewer Meta Abo Brewery for $225m. The UK based global spirits group has reportedly outbid its major rivals SABMiller and Heiniken by $35m.
The international maker of spirits such as Johnnie Walker whisky and Smirnoff vodka, said it plans to expand Meta Abo by introducing new products. Meta Abo is said to be the last Ethiopia's state-owned brewery to be sold.
The acquisition is a part of Diageo's aim to increase its sales in emerging markets. The company plans to offset weaker demand in western Europe and the US.
The London-based distiller said it expected more than 10% sales and profit growth in Latin America and Africa this year.
Ethiopian Privatisation and Public Enterprise Supervising Agency said, in addition to Diageo's $225m bid, there were three more bidding companies for the deal - SouthWest Development /Sab Miller with a combined $190m bid, Heineken with $188m and Dashen with $173m.
Meta Abo brewery was established by the Ethiopian Government and Ethiopian private nationals in 1963 as a share company. Initially, the production capacity of the brewery was 50,000 hl. per annum. The brewery supplies 55% of its product to distributors and 45% to retailers.
Yes it is good!! More alchole related death. Not to mention drunked drivers who kill ppl. And the abuse of families….
Welcome to hill.
The wester co. Knows how to help ethiopia. More SEKkaarraams generation. They tried with aids,hivs and now with slow death by opening a brewery.
Meles is the worst hypocrite in the world. Just few months ago he bashed African countries for basing their political system on rent-seeking. On theory he despises rent-seeking as Africa’s developmental bottleneck. But in practice, he and his cronies are the number one rent-seekers. They are engaged in all forms of selling and favoritism at the expense of poor Ethiopians. He has no shame begging donors for food aid year in year out while he and his cronies keep cashing-in by selling Ethiopia’s resources. What a shameless lowlife!!!!!!
There are selling our companies to the highest bidder and depositing the money in foreign banks. They should have sold it to Eth. nationals
or naturalized ones. Can anyone tell me as to why they should sell it, other than to acquire foreign currency. Meta was established (during the reign of His HIM H. Selassie) by the govt. and Ethiopians and has been operating successfully eversince. I am totally against FDI, it brings noting but trouble, especially when you sell it to one of those countries with imperialist history and the U.S. multi nationals, also aka as the CORPOTOCRACY. (READ WHAT JOHN PERKINS, CONFESSIONS OF AN ECONOMIC HITMAN WROTE). Example, south Korea got where were it is today on their own. They do not let foreign investors into their country without scrutnizing the benifts. If you want to modernize a state owned comppany,just order new machines and the company will deliver, intall and train train the workers. Just like the then govt. did with Eth. airlines,they gave the management to TWA and did not sell it b/c they were not trators like these piece of S… who are in power. Today, Eth. air. is the best on the continent and a world class airline according to Time masgazine.
The land is being sold aka contracts for longer than we will be alive the hydro dams electricity is gonna be sold the brewery is being sold the gold mine is sold even children are being sold.
does meles have to change the name of our country and flag? Before we wake up and see the big picture which is Ethiopia is being destroyed by the traitor TPLF.
Great! we got upgraded from drinking Tella to birra, then to Johny Walker. Thanks to the Klypto government everything is on sale.
The “50% commission” will be deposited in swiss bank.
There goes the selling rampage by the The shifta cirlce.
Anything standing is up for sale by the Midget adgi Meles the chenawi.
They are trying to gather as much and as fast as they can before they are kicked out of Arat kilo.
Death to TPLF.
Instead of being innovative, creative and building new BRANDS, the A*ame regime is auctioning every single viable Ethio brand built by the Ethiopian people and honorable HIM king Selassie to the highest foreign bidder.
Only if these nauseating roaches knew how unwise and preposterous it is to flog off national brands! Part ownership, or even getting investors involved in various aspects of the business is one thing but selling the brand off altogether is beyond retarded.
$225 is chump change to these multi nationals and even to Ethiopia. Compare to what the brand means to the nation. You wouldn’t build a successful brand for that amount in today’s economic environment. The marketing cost to build a brand alone would be way over $225 million. No business savvy A*ames left in the country I take it.
its good deal i like it like this big factory handel by forighn compony. because our product will be announced or distribiute for several forighn countries. which means we can be more known for world. im not said before we dont ve it but very very low and un famous so i hope so to will be know by all over world soon.
for this soliution all ethiopian sitizens have responsiblity specially addis ababa must be clean and all over ethiopia. so its enough 4 today
Its my conclusion for
You have no idea about Business, foreign investment, privatization bla bla… I am sure u might posted criticizing Ethiopian govt as an anti-liberalism or a government which can’t attract enough direct investment to the country. Let me brief all the basic concepts and then u would know ur real MORON/Full of, not knowledge , but HATE mind.
1st. Privatization on some sectors is a must to mobilize resources, attract hard currencies and competencies among firms, thus more job opportunities and tax incomes, and reduce imported goods bought and or improve exports
2nd. Huge and globally known companies come to the country wiz a bag full of dollars means, Ethiopia has done better in attracting foreign investment and or as a suitable market for the product. Many countries are globally compete in attracting those huge brands into their countries, Ethiopia is succeeded
…..just tired ‘Be dingay lay wuha bifes yil yele ye hagere sew’…. Enough to reveal your little knowledge or mind wiz full of Hate.
Ethiopia is naturally known on all mass medias, especially the Diasporas politicians age by drought famine, and war. I don’t think such marvelous investments or huge and ambitious constructions ever heard during derg or Jah time. I belong to the new generation, and now I have seen a little sparking light, Ethiopia’s name has been overshadowed on mass medias with controversial mega dams, huge and ambitious investments, and the like issues.
ETHIOPIA…is now boooooooming while u r burning!!! Shame..MORONS
oyane is selling everything including the people of Ethiopia. the kids are sold all over the world in the name of adoption. our sisters are sold to Arabs. our brothers are held under a barrel of gun until a bidder come for some fighters whose life does not mean a shit to woyane. that is what an occupying bandits do. STOP THIS TIGREAN OCCUPATION!!!!! TWENTY YEARS OF BLOOD SUCKING NEED TO STOP!!! ETHIOPIA IS NOT TIGRAY REPUBLIC!!!!!LET US DRIVE THE OCCUPIERS HOME!!!!!
mr bulga. why are you concerned about Ethiopia and Ethiopians? why do not you get involved in the internal affairs of other neighboring countries such as Eritrea or Sudan at least for a change? it would have been better if you could focus on your little republic named tigray. please leave Ethiopia for Ethiopians.
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