East African Breweries' Shares Surge After $2.3bn Diageo-Asahi Deal

East African Breweries Limited (EABL) saw its shares reach a near decade high following Diageo's announcement of selling its 65% stake to Japan's Asahi Group for $2.3 billion. This landmark deal reshapes ownership in East Africa's largest brew group.

EABL's stock surged 19.3% on the Nairobi Securities Exchange (NSE), marking significant growth in the company's valuation. The transaction marks the largest entry by a Japanese brewer into Africa's alcohol beverage market.