LONDON (Reuters) - 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
Diageo Sells Majority Stake in Guinness Ghana to Castel
LONDON (Reuters) - 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 said that it will retain ownership of the Guinness brand and other Diageo brands produced by Guinness Ghana, including some spirits labels, which will be licensed to Guinness Ghana.
The company sold its stakes in Guinness Nigeria and Guinness Cameroon in 2024 and 2022 respectively, with Guinness Cameroon also acquired by French drinks conglomerate Castel. In 2023, it created a dedicated spirits company to strengthen its spirits business in the region.
Diageo said it was pursuing an "asset-light" beer operating model that could adapt to local conditions.
The company denied reports last week that it was looking to sell the Guinness brand.
(Reporting by Emma Rumney; Editing by David Goodman)
