This archive report was first published on 5 October 2019.
On October 5, 2019, Centum Investment announced the completion of the sale of its shareholding in Almasi Beverages and Nairobi Bottlers to Coca-Cola Sabco East Africa. The company, associated with billionaire Chris Kirubi, had held 53.9% of the issued shares of Almasi Beverages and 27.6% in Nairobi Bottlers.
Centum's total value in the two firms stood at Sh16.8 billion as of March 31, 2019. Coca-Cola Sabco East Africa paid Centum Sh19.4 billion, resulting in a Sh2.6 billion return on investment.
As a result of the sale, Coca-Cola Sabco East Africa will become the sole shareholder of Nairobi Bottlers, previously owned 72.4% by the company.
Centum Group CEO and Managing Director James Mworia stated, 'Centum Plc is pleased to announce that it has completed the sale of all its shareholding in Almasi Beverages Limited (ABL) and Nairobi Bottlers Limited (NBL) to Coca-Cola Sabco East Africa Limited.'
Coca-Cola Sabco East Africa is a subsidiary of Coca-Cola Beverages Africa Limited, the largest bottler in Africa, operating in 12 African countries.
Founded in 1967 as Industrial and Commercial Development Corporation Investments (ICDCI), Centum Investment Company Plc is a private equity firm with investments in various sectors, including agriculture, real estate, education, healthcare, energy, beverages, and financial services.
As of March 31, 2018, Centum's total assets exceeded Sh66 billion, with Chris Kirubi, the company's largest shareholder, holding a 30.5% stake.
