3 May 2018. An agreement has been reached for an existing shareholder, the Bowler Consortium, to acquire AB InBev’s 50.4% shareholding in Chibuku Products Limited through its holding company, Malawi Traditional Beverages Limited.
This an important vote of confidence in the business as the existing shareholder has made a decision to increase its shareholding.
The transaction is subject to exchange control approvals and is expected to be finalised mid-year. Once the proposed transaction has been concluded, the Bowler Consortium will become the controlling stakeholder. In this interim period, the Board of Directors has appointed Gerald Bowler as Acting Managing Director of the business.
All employees will continue in the employ of CPL and no changes will be made as a result of the transaction.
“We are excited about the future of the business as we prepare for it to enter into a new chapter. We are looking forward to building on the achievements to date and further growing the business. Our focus remains on providing our customers with world-class service and our consumers with the best quality beverages,” says Bowler.
Issued by AB InBev Africa