Distell: Group to buy stake in Kenya
FMCG SUPPLIER NEWS
IOL Business/ Reuters - Apr 8th, 09:08
The Kenyan government planned to sell a large part of its stake in a domestic wines and spirits marketer to South Africa’s Distell Group, the privatisation commission said on Friday
. The commission said Distell would purchase 26 percent of Kenya Wine Agencies Limited (KWAL) for an undisclosed amount. The government owns about 73 percent in KWAL. As part of the sale, Distell will sign a long-term supply agreement with KWAL for the marketer to have exclusive rights to sell Distell products in Kenya. – Reuters
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