South Africa: Diageo sells sorghum beer business United National Breweries to Delta Corporation

Diageo has entered into an agreement for the sale of United National Breweries (UNB), its sorghum beer business in South Africa, to Delta Corporation Limited, The Wall Street Transcript reported on December 20.

The transaction, which is subject to regulatory approval, is expected to close in the second half of F19.

Sale proceeds, which are not material, have not been disclosed.

The transaction is expected to be eps neutral in its first full financial year.

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