Danish brewer, Carlsberg A/S, the fourth largest beer company in the world, behind Heineken, said on Wednesday it had sold its 59% stake in Carlsberg Malawi Brewery Limited (CMBL) to french beverage company, Castel Group.

The terms of the sale were not disclosed except that Carlsberg has signed a license agreement with Castel allowing it to continue to produce Carlsberg Lager in Malawi. Carlsberg Malawi Brewery Limited (CMBL) is one of the oldest breweries in Malawi and opened in 1968. It is also the first Carlsberg brewery outside Denmark.