Slaughter and May is advising Diageo on the sale of its 65% shareholding in East African Breweries plc (EABL) and its 53.68% interest in UDV (Kenya) Limited to Asahi Group Holdings, Ltd. The transaction consideration implies an enterprise value for 100% of EABL of $4.8bn.
Alongside, Diageo has committed to enter into new long-term licence arrangements with EABL, including in relation to the Guinness brand.
EABL is the largest beer business in East Africa and is listed on the Nairobi Securities Exchange, the Dar es Salaam Stock Exchange and the Uganda Securities Exchange. The transaction is subject to regulatory approvals and is expected to complete in the second half of 2026.
Slaughter and May is working closely with members of Diageo’s in-house legal and corporate development teams, including Anthony Smith (Global Counsel Business Development), Jessica Thompson (Legal Counsel – M&A), David Swinburne (Global Corporate Development and M&A Director) and Rohit Kapoor (Global M&A Director), as well as with Bowmans in Kenya and Tanzania and KATS in Uganda.
Charmaine Leung / Trainee, David Edwardes-Ker / Trainee, Isobel Cox / Trainee, Toby Lampert / Trainee, Macy Lawrance-Thompson / Trainee, Nathan Aldulaimi / Trainee