EABL logo. Courtesy
East African Breweries PLC (EABL) has successfully concluded its tender offer to acquire additional shares in Uganda Breweries Limited (UBL), further consolidating its position in the subsidiary.
The offer, which sought to purchase up to 2,177,995 ordinary shares, represents approximately 1.81 percent of UBL’s issued share capital.
The tender offer, priced at UGX 5,630 per share, was extended to all existing shareholders on a willing buyer, willing seller basis. The offer officially closed at 5:00 PM on March 3, 2025.
According to EABL, a total of 151,156 shares were tendered by shareholders, significantly below the maximum target of 2,177,995 shares.
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Of these, 78,268 shares have already been transferred to EABL, with payments processed as per the preferred methods indicated by accepting shareholders.
The remaining 72,888 shares are currently undergoing final transfer procedures, after which EABL will complete the corresponding payments.
With the conclusion of this transaction, EABL’s total stake in UBL has increased to 118,444,469 ordinary shares, representing 98.32 percent of UBL’s total issued shares. This includes shares held by EABL prior to initiating the tender offer.
The successful acquisition further cements EABL’s dominance in Uganda’s brewing sector, ensuring a tighter grip on operations and strategic decision-making at UBL..
Angela Namwakira, EABL’s Company Secretary, in her official statement emphasized the company’s commitment to its long-term investment strategy .
“This successful tender offer reflects our ongoing efforts to consolidate and enhance our influence in Uganda Breweries Limited, ensuring continued growth and stability,” she noted .
The brewing giant is expected to leverage this increased stake to drive further investments and expand its product portfolio in Uganda’s competitive alcoholic beverage market.
