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Kenyan Court Pauses Diageo’s £1.7bn Sale of East African Breweries Stake

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Kenya’s High Court has paused Diageo’s $2.3bn sale of its controlling stake in East African Breweries to Asahi, saying proceeding before all regulatory and legal steps are complete could undermine ongoing litigation and constitutional issues. The delay follows suits by a distributor and a construction company. The sale is part of Diageo’s debt-reduction plans, and the Capital Markets Tribunal is reviewing a minority appeal over Asahi’s takeover-offer exemption.

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