Diageo will sell a 65% stake in East African Breweries to Asahi.

On December 17th, Diageo announced an agreement to sell 65% of its stake in East African Breweries Group and its stake in Kenya Spirits Company UDV to Asahi. The estimated net income after deducting taxes and transaction costs is $2.3 billion. It is expected that the transaction will be completed in the second half of 2026.