British multinational company Diageo Plc has agreed to sell its entire 65 percent stake in East African Breweries Limited (EABL) and its holding in the spirits maker UDV Kenya to Japanese beverage firm Asahi Group Holdings in a deal worth $2.3 billion (Sh296.6 billion), net of tax and transaction costs.
Asahi will take full control of Diageo Kenya Limited, the investment vehicle through which the British firm holds the EABL stake. Asahi will also takes ownership of Diageo’s 53.68 percent holding in UDV Kenya. EABL owns the remaining UDV Kenya stake and also has management control of the unit.
