The High Court has declined to issue conservatory orders sought by JILK Construction Company Limited and other parties aimed at halting the proposed transaction between global beverage giant Diageo and Japanese brewer Asahi involving Diageo’s shareholding in East African Breweries PLC (EABL).
In a statement issued on Thursday, EABL welcomed the court’s decision, saying it reaffirmed the significant public interest and economic implications attached to the transaction. The brewer noted that it had consistently respected the judicial process and would continue defending the matter through lawful channels.
“EABL remains a major contributor to Kenya’s economy and one of the country’s leading taxpayers and employers. We are encouraged that the Court recognized the wider public finance implications of the transaction,” the company said.
The company further disclosed that the proposed deal has already received full and unconditional regulatory approvals in Uganda and Tanzania. The only remaining clearance required is merger approval from the Competition Authority of Kenya.
EABL argued that historical disputes unrelated to the transaction should not be used to delay a deal it says carries substantial economic significance for shareholders, employees, suppliers, and the wider East African market.
The brewer reiterated its commitment to creating long-term shareholder value while supporting the thousands of businesses and livelihoods linked to its operations across the region.
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