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A Kenyan high court has dismissed an attempt to stop the $2.3 billion acquisition of East African Breweries Limited (EABL) by Japan's Asahi.
A Kenyan high court dismissed legal challenges blocking Asahi Holdings' $2.3 billion EABL acquisition.
KEY POINTS
- Diageo's sale of its 65% EABL stake is now cleared to proceed without legal impediments.
- The court's decision removes Bia Tosha's longstanding litigation as an obstacle to the transaction.
- This sale is central to Diageo's new turnaround strategy under CEO Dave Lewis to reduce debt.
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