SABMiller settles dispute with East African Breweries

25 Feb 2010

Global brewing giant SABMiller said on Thursday, 25 February 2010, that group companies SABMiller Africa BV and Tanzania Breweries Limited (TBL) have agreed an amicable settlement of their dispute with East African Breweries Limited (EABL), a member of the Diageo plc group, relating to the Tanzanian beer market.

As a result of the settlement, all claims and counterclaims in the arbitration in London will be withdrawn, and the parties have agreed not to pursue any further actions in respect of the matters which have formed the subject matter of the arbitration between them.

TBL will cease to brew and distribute EABL's brands in Tanzania following a transitional period. TBL and SABMiller International BV's brands will continue to be brewed and distributed in Kenya.

The terms of settlement are strictly confidential and the parties will give no further information about the settlement or comment on it, SABMiller said.

SABMiller has reaffirmed its commitment to grow relevant TBL brands in Kenya, which reflects the spirit of the recently signed Protocol on the Establishment of the East African Common Market.

Source: I-Net Bridge

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