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NAIROBI: Beer maker East African Breweries Ltd (EABL) could be forced to cut its stake in Serengeti Breweries, leading to what could be a second-time unlucky run in Tanzania.
The Fair Competition Commission (FCC) of Tanzania has told EABL that it was cancelling an earlier approval to acquire a controlling stake in Serengeti, where it owns 51 per cent. Four years ago, a disagreement pushed EABL to buy back a 20 per cent stake of its biggest subsidiary, Kenya Breweries Ltd, then owned by Tanzania Breweries Ltd.
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