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The Board of Directors of East African Breweries PLC (EABL) announced that Diageo PLC has agreed to sell its majority stake in EABL and its shareholding in the Kenyan spirits business, UDV (Kenya) Limited, to Asahi Group Holdings. This acquisition marks the first time a Japanese brewing major has invested at this scale in an African alcohol beverage business. Under the transaction, Asahi will become majority owners of operations in Kenya, Uganda, and Tanzania, preserving local brands while introducing globally recognized names. The deal, valued at Ksh 296.6 billion ($2.3bn), will see Asahi acquire a 65% stake in EABL.
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