Settlement of dispute

RNS Number : 6429H

Diageo PLC

25 February 2010

 



25 February 2010

Settlement of dispute with Tanzania Breweries Limited and SABMiller Africa BV

Diageo plc today announces that its subsidiary, East African Breweries Limited (EABL), has agreed an amicable settlement of its dispute with Tanzania Breweries Limited (TBL) and SABMiller Africa BV (SABMA), members of the SABMiller PLC group, relating to the Tanzanian beer market.

As a result of the settlement, all claims and counterclaims in the arbitration in London will be withdrawn, and the parties have agreed not to pursue any further actions in respect of the matters which have formed the subject matter of the arbitration between them. TBL will cease to brew and distribute EABL's brands in Tanzania following a transitional period. TBL and SABMiller International BV's brands will continue to be brewed and distributed in Kenya. Save as described above the terms of settlement are strictly confidential.  The parties will give no further information about the settlement or comment on it.

- Ends -

 

END

 

 

STRUSOWRRBAUUAR