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Evening Standard
Evening Standard
Henry Saker-Clark

Diageo to sell majority stake in East African beer business for £1.7bn

Diageo East Africa Guinness Asahi
Diageo is selling its majority stake in an east African beer business to Japanese drinks giant Asahi (Andrew Milligan/PA) - (PA Archive)

Diageo has struck a 2.3 billion dollar (£1.7 billion) deal to sell its majority stake in an East African beer business to Japanese drinks giant Asahi.

The deal is the latest move by the Guinness owner to sell off “non-core” parts of the business in order to boost its finances.

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