A&O Shearman advises Asahi on its acquisition of Diageo’s East Africa business

EABL markets beer, spirits and RTD beverages in Kenya, Uganda, and Tanzania. Together with UDVK, EABL possesses a rich brand portfolio, including beer brands such as Senator, Tusker, and Serengeti, as well as spirits brands such as Chrome and Kenya Cane.

As part of the transaction, Diageo and EABL plan to enter into long term licenses for Diageo’s global brands, such as Guinness, Johnnie Walker, and Smirnoff Ice, to ensure they continue to be sold within the East African region.

The transaction was signed on December 17, 2025 and is expected to close in the second half of calendar 2026, subject to regulatory approvals. This transaction forms part of Asahi’s objective to establish a foundation for medium- to long-term growth by acquiring a leading platform in Kenya and the East African market.

A&O Shearman has advised across Asahi’s recent high-value acquisitions such as Asahi’s USD11.3 billion acquisition of Carlton & United Breweries, its EUR7.30bn acquisition of the Central & Eastern European business of SABMiller and its EUR2.55bn acquisition of Peroni, Grolsch and Meantime.

The transaction is led by partners Matthew Appleton, Maegen Morrison, Aoife Mac Dermott, and Jim Ford, together with partners Tokutaka Ito and Nick Whithers. They are supported by senior associates Soyeon Lim and Andrew Pang, associates Harriet Steele, Joel Hartikainen, Toluwa Agboola, Priyanka Popat, and Andre-Pierre Cronje; and licensing/commercial senior associate Magnus Yadi and associates Amy Cheng, Betsy Perry, Millie Fantham, and Aled Bennett. The broader team includes finance partners Hitomi Komachi and Jane Glancy, antitrust partner James Webber, tax partner Lydia Challen, employment partner Kate Pumfrey and incentives partners Mahesh Varia and Paul McCarthy.