The High Court has dismissed an application seeking to stop the proposed acquisition of a majority stake in East African Breweries PLC (EABL) by Japan’s Asahi Group Holdings, paving the way for the transaction to proceed pending final regulatory approval. In a ruling delivered on June 17, Justice Gregory Mutai declined to grant conservatory orders
Beer distributor Bia Tosha Distributors Limited has withdrawn its legal challenge against a major deal involving East African Breweries PLC (EABL), Diageo and Japan’s Asahi Group Holdings. The move removes one of the main legal challenges facing Diageo’s planned sale of its 65% stake in EABL to Asahi in a deal valued at about $2.3
Capital markets regulators in Kenya, Uganda, and Tanzania have approved Asahi Group Holdings’ acquisition of East African Breweries PLC (EABL) shares from Diageo plc. The approval removes the need for a mandatory takeover offer. The announcement came from Asahi’s legal and financial advisers. These include A & O Shearman, ENS, Nomura and Absa. The firms
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