Diageo’s exit shines light on investment hurdles in Africa
Diageo global headquarters on Great Marlborough Street, London, England. Diageo fights to proceed with the $2.3 billion sale of its EABL and UDV Kenya stakes to Asahi, despite a distributor’s legal challenge.
British multinational brewer Diageo Plc is grappling with asset losses and legal battles in several African countries as it seeks to exit parts of the continent’s beer market, highlighting the difficult operating conditions facing foreign investors.
The company is fighting a multimillion-dollar legal battle over its planned exit from East African Breweries Ltd (EABL) after posting estimated losses of about $365 million from the sale of assets in Ethiopia, Nigeria and Ghana.
