Kenya approves $2.3 billion sale of EABL stake

Kenya’s competition regulator has conditionally approved the sale of Diageo’s roughly 65% stake in East African Breweries Limited to Japan’s Asahi Group.

The deal, valued at about $2.3 billion, ranks among the largest transactions in East Africa’s beverage industry.

Approval is subject to conditions aimed at protecting jobs and maintaining the company’s operations in Kenya.