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flag Diageo sells majority stakes in EABL and UDVK to Asahi for $2.3 billion, retaining global brand rights.

flag Diageo is selling its 65% stake in East African Breweries and 54% of UDVK to Japan’s Asahi Group Holdings for about $2.3 billion in net proceeds, expected to close in late 2026. flag The deal supports Diageo’s plan to reduce debt and strengthen its balance sheet, with EABL’s enterprise value at $4.8 billion. flag Diageo will retain long-term licensing rights to produce and distribute its global brands like Guinness, Smirnoff, and Captain Morgan through EABL, while Asahi aims to grow the business and preserve local brands such as Tusker and Kenya Cane.

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