Kenya court dismisses bid to stop $2.3 billion EABL sale
A Kenyan court dismissed a bid to block Diageo's $2.3 billion sale of East African Breweries to Asahi. The ruling clears the way for the debt-reducing deal.
A High Court in Kenya has dismissed a legal challenge aimed at halting the $2.3 billion sale of East African Breweries Limited (EABL) by DIAGEO PLC. The decision clears the path for the London-listed spirits giant to proceed with the divestment of its 65% stake to ASAHI GROUP HOLDINGS LTD, based in Japan.
The legal hurdle emerged in January when Bia Tosha, a local beer distributor, filed a petition to block the transaction. This challenge was linked to ongoing litigation between the distributor and the brewery dating back to 2016. However, High Court Judge Bahati Mwamuye ruled against the motion, effectively removing the barriers to the deal's completion.
