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East African Breweries Limited (EABL), one of East Africa’s most influential consumer goods companies, is entering a new era. This comes after its majority shareholder, Diageo, agreed to sell its entire 65% stake to Japan’s Asahi Group Holdings. The transaction was disclosed through a statutory public announcement and an accompanying EABL press release. It is among the region’s most significant cross-border investments in the beverages sector. This deal will see a major Japanese brewer take control of a leading African alcohol business. Who is buying and who is selling The seller is Diageo, the global beverages group behind brands such…
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Global spirits giant Diageo has agreed to sell its majority stake in East African Breweries Limited (EABL) to Japan’s Asahi Group Holdings, marking a significant shift in the ownership of East Africa’s largest beer producer. Under the deal, Diageo will sell its 65% shareholding in EABL, along with its interests in the Kenyan spirits business, United Distillers and Vintners Kenya (UDVK), to Asahi. The transaction is expected to generate net proceeds of approximately $2.3 billion for Diageo after tax and transaction costs, valuing EABL at an implied enterprise value of $4.8 billion. Diageo said the disposal aligns with its strategy…
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In an extraordinary act of shareholder resolve, a majority of the minority investors in Uganda Breweries Limited (UBL) stood their ground against a high-stakes buyout offer from East African Breweries Limited (EABL), rejecting what was marketed as a generous cash-out opportunity. Now, through extensive research and access to regulatory filings, CEO East Africa Magazine can reveal the names behind the two sides of this gripping corporate showdown – those who sold, and those who refused. The high-stakes offer In September 2024, EABL – already holding a 98.19% stake in UBL – launched a final push to acquire the remaining 1.81%…
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