Kenyan distributor asks court to block Diageo stake sale to Asahi [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
The firm applied for an ex parte injunction to block the stake sale yesterday (6 January) but that has been refused as the judge requested to hear from both sides in the case, Just Drinks understands. Reports earlier today (7 January) from Bloomberg and Reuters said Bia Tosha had asked the High Court in Kenya to halt the sale due to legal action with Diageo's Kenyan businesses that has not yet been resolved. Kenneth Kipligat, a lawyer representing Bia Tosha, told Bloomberg : “If they succeeded in disposing [of] their only asset in Kenya, we will not be able to execute a judgment against Diageo." He added: “[The] court agrees with us that the matter is urgent and has fast-tracked it and given us a date for Friday.” The litigation in question dates back to 2016 against EABL and its subsidiary Kenya Breweries. The case was linked to a spat over a distribution contract. Bia Tosha, this publication understands, is no longer a distributor in the market, with its route network hav
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