Overview
- Bia Tosha filed a High Court suit seeking to halt the transfer of Diageo’s 65% stake in East African Breweries to Asahi until its competition dispute is resolved.
- Kenya’s High Court certified the matter as urgent and set a Friday hearing to issue directions on the request to block the transaction.
- Diageo and EABL did not immediately comment on the case as investors weighed potential timing risks to approvals and closing.
- Diageo announced the agreement in December with plans to retain brand presence through licensing arrangements even as ownership changes.
- Shares in Diageo and EABL edged lower following reports of the legal challenge, reflecting concern over possible delays.