Kenya’s competition regulator has approved Diageo’s proposed sale of its 65% stake in East African Breweries Plc (EABL) to Japan’s Asahi Group Holdings, subject to conditions, Bloomberg News reported on Thursday, citing a letter.
The approval clears a key regulatory hurdle for the transaction, which would see Asahi take control of the East African brewer from Diageo.
The conditions attached to the approval were not immediately detailed in the Reuters report.
EABL is one of East Africa’s major beverage companies, with operations and brands serving markets across the region. The transaction could reshape the competitive landscape of the region’s alcoholic beverages industry and strengthen Asahi’s presence in Africa.
Source: Reuters
Reporting: Unnamalai L, Bengaluru
Editing: Vijay Kishore
