The Jamaica-based brewery, Red Stripe, says it has sold its minority shares in the Brasserie Nationale d'Haiti and the Windward & Leeward St Lucia to Heineken.
Red Stripe said it received US$9.3 million for the sale of the 15 per cent shares in the two companies and that the funds would be used for capital investments.
"This is the right time to dispose of these minority shareholdings as we have ambitious plans for Red Stripe, with several major initiatives being undertaken," Cedric Blair, Red Stripe's managing director, said in a statement.
"These include the installation of our co-generation plant, plant optimisation, and Project Grow - the conversion to the use of locally sourced raw materials."
The two Caribbean-based breweries that have been sold will continue to brew Guinness under licence for Diageo, in addition to the other licensed breweries in Guyana, Trinidad, The Bahamas, St Vincent, Belize, Grenada, St Kitts, Barbados, Panama, Dominica, and Antigua. read more
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