Guinness Cameroon Sale to Castel Group Gets Regional Body Nod
Diageo Plc’s sale of Guinness Cameroon to Castel Group was endorsed by the Competitiveness Commission of the Economic and Monetary Community of Central Africa, Cameroon Radio Television reported.
The 389 million-pound ($480 million) deal was initiated by Diageo in July.
Castel Group’s Cameroonian unit, Société Anonyme des Boissons du Cameroun, plans to invest 200 billion CFA francs ($330 million) over the next five years to integrate Guinness into the supply chain, improve the availability of products on the market and maintain present jobs, the state-owned broadcaster said, citing Stephane Descazeaud, director-general at SABC.
Source: Bloomberg