Kenya court clears Diageo’s $2.3 billion sale of East African Breweries
A Kenyan court on Thursday dismissed a legal attempt to block Diageo’s $2.3 billion sale of its local subsidiary, East African Breweries Limited, to Japanese brewer Asahi Holdings.
The London-listed company, known for brands such as Johnnie Walker whisky and Captain Morgan rum, announced the sale in December as part of a broader strategy to reduce debt and stimulate growth under CEO Dave Lewis. The deal, which transfers Diageo’s 65% stake in EABL to Asahi, had faced uncertainty after Kenyan beer distributor Bia Tosha filed a petition citing ongoing litigation from 2016.
High Court judge Bahati Mwamuye rejected the petition, stating that any legal obstacles preventing the completion of the sale were lifted. The ruling paves the way for Diageo to finalize the transaction and focus on its global business turnaround.
Industry analysts note that the sale of EABL is a key step for Diageo amid challenges including changing consumer preferences, global economic uncertainty, and tariff-related risks. The deal is expected to strengthen Diageo’s financial position while allowing Asahi to expand its presence in the East African beer market.
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