Diageo: sells Guinness Cameroon to Castel Group
(CercleFinance.com) - Diageo has announced that it has agreed to sell Guinness Cameroon S.
A., its business in Cameroon, to the Castel Group for 389 million pounds.
Following completion of the deal, Castel will take over the production and domestic distribution of Guinness in Cameroon under a licence and royalty agreement.
Diageo says that this agreement provides a strong platform for the expansion of Guinness in both production and distribution through Castel's five brewing sites and their national distribution network.
The transaction is expected to close in H1 2023, subject to regulatory approvals.
On completion, the transaction will result in a one-off gain on disposal of approximately 250 million pounds after tax.
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