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Dec 17, 2025 8:00 AM

Diageo Sells East Africa Beer Giant To Japan's Asahi

Diageo plc (NYSE:DEO) stock rose Wednesday after the company reported agreement to sell its stake in East African Breweries plc (EABL), along with its shareholding in the Kenyan spirits business, to Asahi Group Holdings, Ltd.

The transaction represents a 17x adjusted EBITDA and implies a total enterprise value of $4.8 billion for 100% of EABL and is expected to generate $2.3 billion in net proceeds after tax and costs.

Sold Assets Details

In particular, the company is selling its 100% stake in Diageo Kenya Limited, which holds 65% of EABL, including its shareholding in the Kenyan spirits business UDVK.

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