Asahi Group Holdings, the Japanese brewing and beverages giant, has picked Absa Bank Kenya PLC, ENS Africa, A&O Shearman and Nomura Holdings to advise on its USD 2.3 billion acquisition of a 65% controlling stake in East African Breweries Plc (EABL) from Diageo Plc, a transaction that ranks among the largest consumer-sector deals ever executed in East Africa.
The advisory line-up brings together regional execution strength and global deal expertise. Absa Bank Kenya PLC is acting as financial adviser alongside Nomura, the Japan-headquartered investment bank, while ENS Africa and A&O Shearman, the London-headquartered global law firm, are providing legal counsel.
The transaction spans multiple public markets and regulatory regimes, with EABL listed on the Nairobi Securities Exchange and cross-listed in Uganda and Tanzania, placing a premium on precise execution, regulatory alignment and market confidence.
The deal delivers USD 2.3 billion in net proceeds to Diageo and implies an enterprise valuation of approximately USD 4.8 billion for EABL.
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Everything You Need to Know About Diageo’s Sale of its 65% Stake in EABL to Japan’s Asahi GroupWhile the strategic logic of Asahi’s entry into Africa has been widely reported, the transaction also highlights the growing role of African-based advisers in delivering billion-dollar, cross-border deals to global standards.
For Absa and ENS Africa, alongside Nomura and A&O Shearman, the mandate stands as a clear statement of advisory capability at scale.
