Diageo plc, concluded the first 30pct down payment for the acquisition of Meta Abo Brewery. The International producer of beverages wired the first 
installment of payment for its purchase to the Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) account on Thursday.
Diageo, the London based alcoholic beverages company is planning to invest at least US$ 50 million in the Meta Abo Brewery soon, according to Capital.
Diageo’s Marketing Director for African Regional Markets, Ekwunife Okoli, said the company will be investing in the expansion of the Meta Abo Brewery.
Diageo is to begin the take over process at Meta Abo Brewery, Ethiopia. The International distiller arranged for the transfer with Ethiopian Privatization and Public Enterprises Supervising Agency at the end of November.
The transfer process is expected to take three weeks commencing from next Monday said Brook Worku, Country Representative for Diageo.
Diageo will conclude the final payment as per the agreement reached with PPESA according to Brook.
Diageo Ethiopia is going to reintroduce the world renowned stout beer Guinness Beer, to the Ethiopian market. The debut is scheduled for March 31, 2017 during an event dubbed “Feshta”.
New owner of Meta Brewery in Ethiopia, Diageo is to introduce international standard safety and working standards at the plant according to sources.
The company is committed to mitigating risks in the work place that arise from accidental or deliberate breaches of safety standards in the work place according to Habtu Bazezew, Health and Safety Manager with Diego.
Maintaining standards of safety depends on proper reporting of accidents, and non compliance with regulations that could pose a risk to safety, health or security according to Habtu.
Diego has committed more than a million US dollars to upgrade the standards of safety at the plant because the management believes that the outcome is worth the investment.
