East Africa: Diageo Agrees to Sell East African Breweries Stake to Asahi

Diageo has agreed to sell its entire 65% stake in East African Breweries plc to Japan’s Asahi Group Holdings, marking a major ownership shift in one of Africa’s largest beverage companies.

The transaction will be executed through the disposal of Diageo Kenya Limited and includes Diageo’s interest in United Distillers Vintners Kenya, a spirits producer serving the local market. Financial terms were not disclosed.

The sale aligns with Diageo’s strategy to divest non core assets to strengthen its…