Billionaire Castel to Acquire Diageo’s Unit And Expand in Ghana
- Castel deal values Diageo’s Guinness Ghana at $104 million
- Guinness Ghana to remain listed following the acquisition
Castel will enter into a license and royalty agreement to allow the company to brew, produce and distribute Guinness and the other Diageo brands made in Ghana.
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Castel Group has agreed to acquire Diageo Plc’s stake in its Ghana unit and expand in the West African nation that’s just recovering from a debt crisis.
Billionaire Pierre Castel’s company will buy Diageo’s 80.4% stake at 5.15 cedis per share, Guinness Ghana Ltd. said in a statement to the Ghana Stock Exchange, valuing the company at $104 million. Guinness Ghana last traded at 5.5 cedis on Monday.