Diageo PLC 6-K Filing

FAQ

Key Financial Figures

• $2.3b — eeds after tax and transaction costs of $2.3bn, equating to a multiple of 17x adjuste
• $4.8b — ed enterprise value for 100% of EABL of $4.8bn. ●       
• $996 — 0 June 2025, EABL reported net sales of $996m, $258m EBITDA and net income of $94m,
• $258m — 2025, EABL reported net sales of $996m, $258m EBITDA and net income of $94m, with net
• $94 — f $996m, $258m EBITDA and net income of $94m, with net debt at $229m.   Li
• $229m — nd net income of $94m, with net debt at $229m.   Listings   Asahi e

Filing Documents

• a8411l.htm (6-K) — 40KB
• 0001654954-25-014035.txt ( ) — 41KB

From the Filing

AGREES TO SELL EABL SHAREHOLDING TO ASAHI a8411l UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549   FORM 6-K   REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934    17 December 2025   Commission File Number:   001-10691   DIAGEO plc ( Translation of registrant’s name into English )     16 Great Marlborough Street, London, United Kingdom, W1F 7HS   ( Address of principal executive offices )   Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.   Form 20-F   X                                                                  Form 40-F                   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR FOR IMMEDIATE RELEASE   17 December 2025   Diageo enters into agreement to sell its shareholding in   East African Breweries plc ("EABL") to Asahi Group Holdings, Ltd ("Asahi")   ●            Announcement today of agreement by   Diageo to sell to Asahi its 65% shareholding in EABL, and its shareholding in the Kenyan spirits business, UDVK. ●            Disposals consistent with Diageo's strategy of appropriate and selective disposals of non-core assets, strengthening the balance sheet and supporting our previously shared commitment to de-lever. ●            Estimated net proceeds after tax and transaction costs of $2.3bn, equating to a multiple of 17x adjusted EBITDA, resulting in an implied enterprise value for 100% of EABL of $4.8bn. ●            Transaction will de-lever Diageo's balance sheet by c.0.25x. ●            Diageo has committed to enter into long-term licensing agreements with EABL to secure the continued production and distribution of Guinness, local spirits and ready-to-drink brands, as well as the distribution of Diageo international spirits. ●            The acquisition of EABL represents the first time a major Japanese brewing business has made an investment of this size in an African   alcohol beverage   business. Asahi is a strong, responsible and experienced steward for the next phase of growth for EABL. ●            Subject to regulatory approvals, completion is expected in the second half of calendar year 2026.   Today, Diageo announces that it has entered into an agreement to sell its 100% shareholding in Diageo Kenya Limited, which holds 65.00% of the shares in EABL to Asahi, including its shareholding in the Kenyan spirits business, UDVK. Asahi is a Japanese listed   global beverage leader offering a diverse portfolio of brands centred on beer, alcohol and non-alcoholic beverages, as well as food.   Included in this transaction is Diageo's 53.68% directly owned shareholding in UDVK, a Kenya based spirits producer and importer. EABL, which owns the other 46.32%, has management control and fully consolidates UDVK.   EABL is the largest beer business in East Africa with a heritage that dates back over a century and has delivered a strong growth track record in Kenya, Uganda and Tanzania. Asahi intends to preserve beloved local brands while introducing globally recognised names from its portfolio to consumers in East Africa. EABL   benefits from state-of-the-art production facilities, a seasoned Board and management team with extensive experience, and strong relationships with employees, local partners and customers.   Diageo has committed to enter into long term licensing agreements as well as transitional service agreements with EABL. Locally owned brands will remain owned by EABL (e.g. Tusker, Kenya Cane). There will be refreshed agreements for EABL to produce certain Diageo spirits (e.g. Smirnoff, Captain Mo

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