NAIROBI, Kenya, Mar 30 – Craft beer maker Big Five Breweries Limited has announced the transfer of a portion of its plant, machinery, and equipment to Wananchi Breweries Limited.
This follows the Kenyan-based firm’s decision to enter into an asset purchase agreement with Wananchi Breweries Limited that effected February 19, 2024.
“Notice is hereby given under Section 3 of the Transfer of Business Act that Big Five Breweries Limited the Proposed Transferor, proposes to Transfer subject to the fulfillment of certain conditions precedent a portion of its plant, machinery and equipment (Sale Assets) to Wananchi Breweries Limited the Proposed Transferee,” reads the notice.
The Big Five Breweries Company revealed that, following the business transfer agreement, Wananchi Breweries will now acquire the said sale assets.
It also stated that all money, debts, or liabilities due and owing by Big Five Breweries in respect of the sale assets and the business up to the date of transfer shall be received and paid by the company.
“The Transferee Wananchi Breweries Limited will not assume nor is it intended that the Transferee shall assume any liabilities incurred by the Transferor with respect to its assets or business up to the date of transfer of the Sale Assets,” the notice added.
The firm, however, warned that if the agreement is not completed, the business transfer notices will be declared void and shall not take effect.
