Kenya's competition authority has approved an application from Japan's Asahi Group Holdings Limited (2502.T) to acquire sole control of Diageo's assets in Kenya, the authority said on Friday.
The London-listed Diageo announced in December 2025 that it was selling its 65% stake in East African Breweries Limited (EABL.NR) to Asahi for $2.3 billion, as part of its strategy to exit the African market.
The authority said in a statement it approved the transaction involving Diageo Kenya Limited and UDV Kenya Limited, on condition that the merged entity would reserve at least 20% of the refrigeration space provided to retail outlets for non-EABL or Asahi-branded products.
Bloomberg first reported the approval on Thursday.
The deal had faced several challenges in Kenya, including a suit by distributor Bia Tosha that was dismissed in April, prompting EABL to ask Kenya's chief justice in June to speed up related hearings.
As part of the approval, the competition authority said EABL would be required to reserve sufficient funds from the transaction to meet any outstanding liabilities and ensure that the merger does not adversely affect the continuity of supplies and services, or the sustainability and growth of small businesses.
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