South Africa, Sept. 16 -- The London-listed Diageo announced in December 2025 that it was selling its 65% stake in East African Breweries Limited 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 heari...