Kenyan Court Asked to Pause Diageo's East Africa Sale to Asahi [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
asset sale to Asahi Group Holdings ( ASBRY ), after a local distributor asked the court to pause the transaction. Bia Tosha Distributors Ltd. has requested that the High Court in Kenya suspend the proposed share sale until an earlier, unresolved case is concluded, arguing that the deal could affect its ability to enforce a potential judgment against Diageo. Warning! GuruFocus has detected 3 Warning Signs with LYSDY. Is ASBRY fairly valued? Test your thesis with our free DCF calculator. The dispute dates back to a 2016 lawsuit in which Bia Tosha sued Diageo, East African Breweries Ltd., UDV Kenya Ltd. and Kenya Breweries Ltd. over a separate matter. Diageo owns 65% of EABL and has a majority stake in UDV, a Kenya-based spirits producer and importer. According to Bia Tosha's lawyer, Ken Kiplagat, disposing of these assets could make it difficult to execute any ruling against Diageo, a concern that appears to have prompted the court to treat the matter as urgent and fast-track the
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