British drinks giant Diageo Plc has agreed to sell its controlling stake in East African Breweries Ltd to Japan’s largest beer company Asahi Group Holdings in a deal worth $2.3 billion (Sh297 billion), marking the end of a decades-long presence for the spirits group in Kenya.
The London-based group said in a statement, on Wednesday, it has agreed to sell its stake in its Kenyan business as it looks to reduce its debt load through divestments.
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