Castel Group to acquire majority stake in Guinness Ghana Breweries PLC
By DL News
Published
1 min read
The share purchase agreement was officially signed on January 28, 2025, marking a significant shift in ownership for the brewing company.
Castel Group has entered into an agreement to acquire an 80.4% stake in Guinness Ghana Breweries PLC (GGB PLC) from Diageo at a price of GH¢5.15 per share.
The share purchase agreement was officially signed on January 28, 2025, marking a significant shift in ownership for the brewing company.
However, the deal is subject to approval from the ECOWAS Regional Competition Authority (ERCA) before it can be finalized.
According to a Ghana Stock Exchange circular, Castel Group has pledged to adhere to the Securities and Exchange Commission’s Code on Takeovers and Mergers (2008) and will take all necessary steps to comply with regulatory requirements. If applicable under the Code, a mandatory takeover offer will be initiated upon the successful completion of the acquisition, pending ERCA approval.
Castel Group, a global leader in the beverage industry, has an established partnership with Diageo in 11 other African markets. The company has expressed its commitment to fostering the growth of Guinness Ghana Breweries PLC following the acquisition.
