UK multinational Diageo’s recently completed additional purchase of 22.7 billion shillings of EABL shares helped generate millions of dollars in transaction fees for stockbrokers representing investors who sold shares in takeover bids .
On paper, Diageo’s total spending of 22.7 billion ATS would result in market agents incurring fees equivalent to his ATS 386.4 million, although this is likely to be lower due to room for negotiation increase.
Diageo is responsible for paying fees for the transfer of shares from minority shareholders, and the transaction is a one-way transaction, according to multiple market sources. “With the tendered block purchase, Diageo has acquired a 14.97% stake in his NSE-listed brewery, increasing its ownership to 65%.
With block trading, NSE’s monthly stock sales soared to his record high of 32.37 billion in March.
