UK/SA: Diageo confirms sorghum beer unit JV with UB Group
Diageo already operates JVs in Africa
The UK-based company will pay US$36m for a 50/50 share in United National Breweries, Diageo said today (28 January). The other half will be held by a company affiliated to UB Group's chief, Vijay Mallya.
The transaction is expected to complete in the first half of this year subject to consent from the South African competition authority.
Diageo already operates a cost-sharing JV in South Africa, Brandhouse Beverages, with Heineken and Namibia Breweries. Brandhouse is a marketing, sales and distribution company for premium alcohol beverages in the country. At the same time, Diageo and Heineken jointly own a brewery in Sedibeng near Johannesburg, which was opened two years ago.
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