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Joe Montana On Football, Finance And Team Building
CNBC Television· 2026-02-12 15:00
No need to introduce the person who I'm sitting next to here. Of course, one of the most famous athletes, really, of all time, certainly in this country, Joe Montana. Thank you for joining us. Thank you.So the first question I was going to have for you apparently ties into this Guinness sponsorship here, because what I was going to ask you is, particularly this week, I know you've been around San Francisco, you've been at a few different events, and you've been with some old teammates, thinking about your c ...
Diageo to Sell Kenyan Drinks Stakes to Japan’s Asahi for $2.3 Billion
Yahoo Finance· 2025-12-17 09:31
Core Viewpoint - Diageo is selling its majority stakes in two Kenyan drinks businesses to Asahi for approximately $2.3 billion, aligning with its strategy of divesting noncore assets to strengthen its balance sheet [1][3]. Group 1: Transaction Details - Diageo will sell its 65% shareholding in East African Breweries (EABL) and its roughly 54% stake in distiller UDVK to Asahi [1]. - The estimated net proceeds of around $2.3 billion will be after tax and transaction costs, giving EABL an enterprise value of $4.8 billion [2]. - The transaction is expected to be completed in the second half of next year and includes agreements for EABL to produce certain Diageo spirits, such as Smirnoff and Captain Morgan rum [2]. Group 2: Strategic Implications - The disposals are part of Diageo's strategy for selective disposals of noncore assets, aimed at strengthening the balance sheet and supporting its commitment to de-lever [3]. - Diageo's interim Chief Executive, Nik Jhangiani, stated that this transaction provides significant value for shareholders and accelerates the commitment to strengthen the balance sheet [3]. - Jhangiani expressed excitement about partnering with Asahi through the licensing of Diageo brands in the region going forward [4].