End of an era: UK drinks giant Diageo set to exit Kenya, sells EABL stake for Sh297b

British drinks giant Diageo Plc has agreed to sell its controlling stake in East African Breweries Ltd  to Japan’s largest beer company Asahi Group Holdings in a deal worth $2.3 billion (Sh297 billion), marking the end of a decades-long presence for the spirits group in Kenya.

The London-based group said in a statement, on Wednesday, it has agreed to sell its stake in its Kenyan business as it looks to reduce its debt load through divestments.

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`;
} else {
teaserEl.innerHTML = “”;
}

activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;

var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

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`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}

function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}

updateFlashSale();
setInterval(updateFlashSale, 1000);

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British drinks giant Diageo Plc has agreed to sell its controlling stake in East African Breweries Ltd  to Japan’s largest beer company Asahi Group Holdings in a deal worth $2.3 billion (Sh297 billion), marking the end of a decades-long presence for the spirits group in Kenya.

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on WhatsApp