Diageo To Buy 20% Stake In Kenyan Unit From SABMiller

Diageo Plc DEO reported that its subsidiary East African Breweries Ltd has agreed to acquire a 20% stake in its Kenyan unit from SABMiller's SBMRF Africa unit for 19.53 billion shillings ($225 million). In late 2010, EABL bought a 51% stake in another Tanzanian brewer, Serengeti Breweries Ltd, for $60.4 million. DEO shares fell 0.95% to close at $84.61 on Friday. Read more from Benzinga's Company news.