Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
Gold Price Holds Near $4,400 as Hormuz Risks and CPI Drive Markets 
Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Canada, US Hold Fresh Trade Talks as August 19 Tariff Deadline Nears 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Aviva First-Half Operating Profit Jumps 24% as Direct Line Deal Boosts Growth 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Add as a preferred source on Google
Diageo plc, a multinational beverage alcohol company, headquartered in London, England, is selling its Guinness Cameroon brewery business to Castel Group for $459.8 million or £389 million.
Diageo agreed to sell its brewery to the French beverage firm, and this was confirmed on Thursday, July 14. With the sale, the Castel Group is expected to take over the production and distribution of Guinness beverage products under a license and royalty agreement contract.
As mentioned in Reuters, the deal between Diageo and the Castel Group is expected to close some time in the first half of 2023. Then again, the acquisition is still subject to regulatory clearances. Once completed, Diageo said the transaction would result in an extraordinary gain on disposal of about £250 million after tax.
"Guinness has outgrown its existing brewery in Douala as a result of its strong performance. Under this new agreement, the brand will have both expanded brewing capacity and distribution," Diageo Africa's president, Dayalan Nayager, said regarding the sale via press release. "It will remain part of the global Guinness family through direct marketing oversight. We look forward to unlocking even greater potential through this agreement with Castel, ensuring we continue to have great tasting Guinness across Cameroon."
At any rate, this latest acquisition will expand Castel Group's portfolio. The move is indeed a strategic plan to get more share in the beverage market as well as bolstering its historical collaboration with Diageo in several other markets.
With its undying entrepreneurial spirit, the company continues to grow. It also remained committed to promoting the economic and social vitality of Cameroon and the African continent, which is surely part of its success too.
Board member of Castel Group, Gil Martignac, further noted, "Since its creation, Castel has been constantly on the move. The planned acquisition of Guinness Cameroon marks a new milestone in its development, both in Africa and in Cameroon where it has been recognized as an economic player for many years through SABC."
Finally, once Castel finally takeover Guinness, its SABC subsidiary will handle the production and deliveries of the GCSA beers, malt drinks, and ready-to-drink beverages.
