Shan Ahmed Khan

Diageo’s London-listed shares face uncertainty on Monday as a Kenyan court delays a hearing tied to its $2.3 billion asset sale. Kenya’s High Court moved the hearing to Jan. 20, aiming to block the deal. Judge Bahati Mwamuye ruled that while the parties may proceed with preliminary actions like seeking regulatory approvals, they cannot close the transaction before that date. Despite the delay, those involved still anticipate completing the deal in the second half of the year. The case was brought by Kenyan beer distributor Bia Tosha, linked to ongoing litigation dating back to 2016. East African Breweries dismissed any connection between the dispute and the sale, stating: “We welcome the court’s decision to allow the regulatory phases of this transaction to continue.”