EABL will continue to manufacture and distribute the Guinness beer and local spirits owned by Diageo Plc under licence after the British multinational agreed a deal to sell its entire stake in the Kenyan brewer to Japanese beverage firm Asahi Group Holdings.
Under the sale agreement announced on Wednesday morning, Asahi will purchase Diageo’s 65 percent EABL stake that is wholly held through an investment vehicle known as Diageo Kenya Limited, and a 53.68 percent holding in spirits producer and importer UDV Kenya for a net consideration of $2.3 billion (Sh296.6 billion).
