Diageo to sell East African Breweries stake for $2.3 billion

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Dec 17 : Diageo, the world's largest spirits maker, plans to sell its 65 per cent stake in East African Breweries to Japan's Asahi Holdings for about $2.3 billion, the maker of Johnnie Walker whisky and Guinness beer said on Wednesday. 

The London-listed company has been grappling with tariff hikes in the United States, its biggest market, high debt levels, and a move away from alcoholic drinks by younger consumers.

The disposal was consistent with its strategy to sell non-core assets, Diageo said on Wednesday.

Last month, the company named former Tesco chief Dave Lewis as its new CEO to revive growth. 

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