Kenya clears Diageo’s sale of EABL stake to Asahi
Kenya’s competition regulator has approved Diageo’s sale of its 65% stake in East African Breweries Plc (EABL) to Japan’s Asahi Holdings, the brewer said on Thursday.“EABL notes the approval by the Competition Authority of Kenya regarding the proposed transaction between Diageo PLC and Asahi Group Holdings, Ltd,” East African Breweries said in a statement to Reuters.
The Competition Authority of Kenya directed EABL to “reserve sufficient funds from the transaction consideration to meet any outstanding liabilities,” Bloomberg News reported earlier, citing a letter sent to lawyers representing the brewers.
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