Diageo plc stock: Kenya court delay keeps $2.3bn Asahi deal in focus ahead of next week
Kenya’s High Court has pushed the hearing on a bid to block Diageo’s $2.3 billion sale of its local unit EABL to Japan’s Asahi Holdings to Jan. 20. Judge Bahati Mwamuye said the involved parties can proceed with preliminary moves, provided the deal isn’t finalized before that date. EABL responded, “We welcome the court's decision to allow the regulatory phases of this transaction to continue.” The lawsuit was brought by Kenyan beer distributor Bia Tosha, tied to a dispute going back to 2016. Despite the hold-up, the deal parties still aim to close in the second half of the year.
