Red Stripe, a Jamaican brewery, has sold its minority stake in two breweries in the Caribbean for around $9.3m.
The company has sold 5% stake in Brasserie Nationale d'Haiti and 10% stake in Windward & Leeward.
These two breweries will continue to brew Guinness under licence for Diageo, apart from other licensed breweries in Guyana, Trinidad, the Bahamas, St Vincent, Belize, Grenada, St Kitts, Barbados, Panama, Dominica and Antigua.
Red Stripe managing director Cedric Blair said that this is the right time to dispose of these minority shareholdings as the company has ambitious plans for Red Stripe with several major initiatives being undertaken.
"These include the installation of our co-generation plant, plant optimization and Project Grow -- the conversion to the use of locally sourced raw materials," added Blair.
Red Stripe has also invested around $7m in a co-generation plant, which is scheduled for completion in March 2014.
