End of an era: UK drinks giant Diageo set to exit Kenya, sells EABL stake for Sh297b
Source: The Standard
British drinks giant Diageo Plc has agreed to sell its controlling stake in East African Breweries Ltd to Japan’s largest beer company Asahi Group Holdings in a deal worth $2.3 billion (Sh297 billion), marking the end of a decades-long presence for the spirits group in Kenya.The London-based group said in a statement, on Wednesday, it has agreed to sell its stake in its Kenyan business as it looks to reduce its debt load through divestments.Get Full Access for Ksh299/WeekBold Journalism Builds Kenya. Stand With Credible ReportingContinue 》Unlimited access to all premium contentUninterrupted ad-free browsing experienceMobile-optimized reading experienceWeekly NewslettersMPesa, Airtel Money and Cards acceptedAlready a subscriber?Log in
The London-based group said in a statement, on Wednesday, it has agreed to sell its stake in its Kenyan business as it looks to reduce its debt load through divestments.Get Full Access for Ksh299/WeekBold Journalism Builds Kenya. Stand With Credible ReportingContinue 》Unlimited access to all premium contentUninterrupted ad-free browsing experienceMobile-optimized reading experienceWeekly NewslettersMPesa, Airtel Money and Cards acceptedAlready a subscriber?Log in
Subscribe to our newsletter and stay updated on the latest developments and special
offers!
Pick your favourite topics below for a tailor made homepage just for you