Diageo to Sell East African Breweries, UDVK Stakes to Japan's Asahi

05:20 AM EST, 12/17/2025 (MT Newswires) -- Diageo (DGE.L) agreed to sell its Diageo Kenya unit, which holds a 65% stake in East African Breweries, as well as its 53.68% stake in Kenyan spirits company UDVK, to Japanese beverage group Asahi. The transaction is expected to deliver net proceeds of $2.3 billion and supports the British alcoholic beverage company's strategy to divest non-core assets and strengthen its balance sheet, according to a Wednesday release. Completion is expected in the second half of 2026, subject to regulatory approvals, with Diageo planning long-term licensing agreements with East African Breweries.