Diageo to sell Guinness Ghana stake to Castel

Diageo to sell Guinness Ghana stake to Castel for $81 mln
Spirits giant Diageo has agreed to sell its 80.4% shareholding in Guinness Ghana to Castel Group for $81 million, it said on Tuesday, continuing to refine its operating model in Africa.
Diageo sells Guinness Ghana after denying whole brand for sale
Diageo is selling its subsidiary Guinness Ghana Breweries, days after denying reports that it was considering a sale of the entire Guinness brand.
Billionaire Castel to Acquire Diageo’s Unit And Expand in Ghana
Castel Group has agreed to acquire Diageo Plc’s stake in its Ghana unit and expand in the West African nation that’s just recovering from a debt crisis.
Alcohol Giant Diageo Sells Majority Stake In Guinness Ghana For $81 Million
Diageo is selling its 80.4% stake in Guinness Ghana Breweries to Castel Group, enhancing their African partnership. While the sale moves forward, Diageo retains ownership of the Guinness brand and other products.
Diageo denies speculation swirling around Guinness, Moët Hennessy
The drinks giant changed tack over the weekend after declining to comment on a report on Friday (24 January) that it was mulling a potential sale of Guinness.
Diageo Sells Off Another Brand to Focus On ‘Effective Portfolio Management’
Diageo announced on Thursday that the spirits behemoth was selling off yet another brand, Cacique Rum, to the French spirits company, Bardinet. The latest move marks a slightly worrying trend for Diageo.
MARKET REPORT: Analysts toast Diageo as it rules out Guinness sale
A report by Bloomberg last week said the FTSE 100 giant was exploring options for both Guinness and its investment in LVMH's Moet Hennessy drinks unit.
Diageo sells Guinness Ghana stake to Castel Group
Guinness Ghana Breweries, in which Diageo has held an 80.4% shareholding, will remain listed on the Ghana Stock Exchange.
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Diageo rises Tuesday, still underperforms market
Diageo PLC closed 18.36% short of its 52-week high of £30.56, which the company reached on February 28th.
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In a report released today, Simon Hales from Citi maintained a Buy rating on Diageo (DGEAF – Research Report), with a price target of £29.00.
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