Ambo International Holding Ltd, Mauritius based company, has bought the 33 percent holding Ethiopia’s government had in Ambo Mineral Water SC. The Mauritius based company made the purchase for a price of 19.7 million USD.

The privatization deal was signed on Thursday, December 15, 2016 at the offices of the Ministry of Public Enterprise in the presence of top officials of the ministry and the company. The deal was signed by Girma Amnter, Minister of Public Enterprises, and Patric Planket, Ambo International Holding Limited representative.

Ever since Ambo was partially privatized, it has improved its production quality and variet, Girma explained. He also extended his hope that the full privatization of the company will take it to a better level.

Planket on his part noted that his company will abide with the agreement in order to realize the company’s aspiration to move to better level of production and quality.

Source: The Reporter