Asahi Falls on Buying Majority Stake in Diageo’s East African
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Shares of Asahi Group Holdings Ltd. fell the most in over a year, amid concernsBloomberg Terminal that its $2.3 billion deal for a majority stake in East African Breweries Ltd. was overpriced and may postpone the Japanese company’s share buyback.Asahi was down as much as 7.5% in Tokyo trading, the biggest intraday decline since November 2024. The drop follows Wednesday’s announcement of the deal, which includes Diageo Plc’s 65% stake in East African Breweries, along with its majority holding in Kenya-based spirits producer and importer UDVK.