US EditionKenya Court Dismisses Bid to Stop Diageo's $2.3 Billion Sale of East African Breweries
The ruling lifts interim orders and clears the way for Asahi to acquire Diageo's 65% stake, a deal valued at about $2.3 billion.
- On Thursday, the High Court dismissed a bid to block Diageo's $2.3 billion sale of East African Breweries Limited to Asahi Group Holdings. Justice Bahati Mwamuye lifted all interim orders, allowing the transaction to proceed.
- Logistics firm Bia Tosha had petitioned the court in January to halt the deal, citing litigation dating back to 2016 over distribution rights and compensation. The dispute threatened to derail one of Kenya's largest transactions.
- Diageo is selling a 65% stake in EABL to Asahi, a move central to CEO Dave Lewis's turnaround strategy to reduce debt and revive growth. The transaction includes the spirits business UDV Limited.
- EABL welcomed the ruling and pledged to address the underlying distribution dispute separately. The parties expect completion in the second half of this year, with Asahi assuming control across Kenya, Uganda, and Tanzania.
- The Tokyo-headquartered group views EABL as a key asset for its global expansion strategy, with CEO Atsushi Katsuki citing the firm's attractive brand portfolio and production capabilities. Asahi is hunting for opportunities across Africa and South America.
11 Articles
11 Articles
Kenyan Court Clears Path for Diageo's $2.3 Billion Sale to Asahi Holdings
Kenyan Court Clears Path for Diageo's $2.3 Billion Sale to Asahi Holdings A Kenyan high court has dismissed an attempt to stop the $2.3 billion acquisition of East African Breweries Limited (EABL) by Japan's Asahi Holdings, eliminating hurdles for Diageo's sale.Diageo, the London-listed beverage giant, agreed in December to sell its 65% stake. The deal is crucial for implementing a turnaround strategy aimed at reducing debt and reviving growth. …
Kenya's High Court Clears Path for KSh 300 Billion Asahi–Diageo Deal Despite Ongoing Distribution Dispute
The High Court has removed a key legal hurdle standing in the way of one of East Africa’s largest corporate transactions, dismissing an application that sought to block Diageo’s planned... The post Kenya’s High Court Clears Path for KSh 300 Billion Asahi–Diageo Deal Despite Ongoing Distribution Dispute appeared first on CEO East Africa.
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