Diageo agreed to sell its 65% stake in East African Breweries Plc (EABL) and related spirits holdings to Asahi, valuing the business at an enterprise level of $4.8 billion. EABL posted $996 million in net sales and $258 million in EBITDA last fiscal year, dominating beer sales across Kenya, Uganda, and Tanzania.
The transaction, set to close in late 2026, includes licensing for Guinness and Smirnoff while local brands stay with EABL. Diageo's CEO praised the team's drive, and Asahi highlighted EABL's strong market position.