Centum investments has offloaded its entire shareholding in Kings Beverage Ltd to Danish Brewing East Africa Ltd, a subsidiary of Bounty Global management firm for a fee of sh 471 million, its CEO James Mworia said in a statement.
Centum wholly-owned Kings Beverages Ltd that distributed various alcoholic beverages, including Carlsberg, Jim Beam, Courvoisier, Teacher’s and Laphroaig single malt among others.
The Sale comes barely two months after the investment announced plans to offload its 53.9 per cent stake in Almasi Beverages Ltd and 27.6 per cent stake in Nairobi Bottlers to Coca-cola Sabco East Africa (CCBA) at a cost of Sh19.5 billion.
The latest divestiture is part of a long term plan by the firms listed at the Nairobi Securities Exchange to cut appetite for capital gains in favour of investing in cash-generating businesses.
The investment firm has in the last five years initiated exits in its private equity portfolio, from the Kenya Wine Agencies Limited, Insurer UAP and Gen Africa.
Through its recent exits activities, Centum has raised Sh13 billion with exit gains represented by a share of Sh9.4 billion.
