Diageo sells stakes in Kenyan beverage companies to Japan's Asahi for $2.3 billion

São Paulo, 12/17/2025 - Diageo announced the sale of its majority stakes in two Kenyan beverage companies to Japanese brewer Asahi for approximately US$ 2.3 billion. The British drinks group, which manufactures Guinness beer and Smirnoff vodka, stated that it will sell its 65% stake in East African Breweries, or EABL, and its approximately 54% stake in the UDVK distillery to Asahi. The remaining shares of UDVK are held by EABL. The net proceeds estimated at around US$ 2.3 billion come after taxes and transaction costs, and give EABL an enterprise value of US$ 4.8 billion, Diageo stated in a statement on Wednesday, projecting that the deal should generate a reduction of about 0.25 times leverage on its balance sheet. The transaction is expected to be completed in the second half of next year, the company declared. Diageo also informed that it has entered into long-term licensing agreements with EABL to ensure the continued production and distribution of Guinness, local distilled ...