Asahi To Indirectly Acquire 65.00% Of Shares In East African Breweries

(RTTNews) - Asahi Group Holdings (ASBRF.PK) has made the decision to acquire, 100% of the shares in Diageo Kenya Limited with a consideration of approximately 365.2 billion yen, and 53.68% of the shares in UDV Kenya Limited with a consideration of approximately 100.2 billion yen, from two subsidiaries of Diageo plc. The company has entered into a separate sale and purchase agreement with each of the two Diageo subsidiaries. Through the Transaction, Asahi will indirectly acquire 65.00% of the shares in East African Breweries which markets beer, spirits and RTD beverages in Kenya, Uganda and Tanzania. Asahi Group stated that it currently has no intention of acquiring the publicly traded shares of East African Breweries beyond a 65.00% shareholding, and intends to maintain EABL's listings.

East African Breweries is listed on the securities exchanges in Kenya, and is cross-listed in Uganda and Tanzania, and 35.00% of its shares are held by public shareholders.