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Centum Sells Shares at a loss of 370M To Danish Brewing Company

Centum has finally finalized an agreement to dispose off  all its shares at Kings Beverage Limited that amounts to 500M to Danish Brewing Company East Africa Limited at a mere Ksh 130M. Therefore making a loss of over three hundred million.

Kings Beverage has been exclusively distributing of Carlsberg beer, Tuborg throughout the East African region.

This is a third time this year Centum has made such a move. Afew months ago, centum sold all its stake at Almasi Beverages and Nairobi Bottlers all the proceed that amounted to 19B with profits that shot to us much as 41% were applied towards repaying Centum,s U.S. dollar-denominated bank term loans of 7.5B that would enable century save well over 700M in financial costs.

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