Kenya’s competition regulator approved Diageo’s sale of its 65% stake in East African Breweries Plc (EABL) to Japan’s Asahi Group Holdings. The transaction is valued at $2.3 billion.
The deal was initially announced in December 2025. Completion is expected in the second half of 2026.
This acquisition represents Asahi’s first major direct investment in Africa. Diageo is divesting the asset to reduce leverage.
Regulators mandated that EABL reserve funds for outstanding liabilities. The company must also allocate 20% of retail cooler space to competitors. The deal has previously faced legal challenges.