Diageo Sells East Africa Beer Stake to Asahi for $2.3 Billion
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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 1000Diageo Plc agreed to sell its majority stake in East African Breweries Ltd. to Japan’s Asahi Group Holdings Ltd. in a $2.3 billion deal as the struggling UK distiller seeks to spur growth by paring back non-core operations.The transaction includes Diageo’s 65% stake in East African Breweries as well as Diageo’s majority holding in UDVK, a Kenya-based spirits producer and importer.
East African Breweries already owns the rest of that company and has management control.