Carlsberg Group Pulling out of Malawi, it has sold its 59% stake in Malawi
Carlsberg Group has signed an agreement to sell its 59 percent shareholding of Carlsberg Malawi Limited (CML), formerly Bottling and Brewing Group Limited, to Castel Group, a French beverage company.
A statement from CML says the registration of the transaction is pending certain regulatory and corporate approvals.
Reads the statement: “The transaction is in line with Carlsberg Group’s new strategy to fully exploit and leverage its strengths while positioning itself for future growth.
As part of the agreement, the Group has agreed a license agreement with CML to continue to produce and sell Carlsberg in Malawi”.
In a statement, Carlsberg Group executive vice-president for Asia, Graham Fewkes said: “In line with Carlsberg Group’s new strategy, we have evaluated all businesses to focus our efforts against a narrower and more precisely-defined set of priorities.
“We will continue to be present in Africa, and I am happy that our partners will continue to provide our great beers to the people of Malawi.” Sources from Carlsberg openly disclosed that the decision was reached due to loss of business in Malawi with the current economic situation.