Diageo Sells East Africa Brewer to Asahi for $2.3 Billion

Diageo Plc agreed to sell its majority stake in East African Breweries Ltd. to Japan’s Asahi Group Holdings Ltd. in a $2.3 billion deal as the struggling UK distiller seeks...

By David Herbling · Bloomberg Markets

Diageo Plc agreed to sell its majority stake in East African Breweries Ltd. to Japan’s Asahi Group Holdings Ltd. in a $2.3 billion deal as the struggling UK distiller seeks to spur growth by paring back non-core operations.