Castel group has agreed to acquire Diageo’s 80.4% stake in Guinness Ghana Breweries PLC at a price of GH¢5.15 per share.

The parties signed a share purchase agreement on January 28, 2025.

The acquisition of Diageo’s stake is conditioned upon obtaining the approval of the ECOWAS Regional Competition Authority (ERCA).

In a circular from the Ghana Stock Exchange, Castel group said it will comply with the requirements of the Securities and Exchange Commission’s Code on Takeovers and Mergers, 2008 (Code) and intends to take the necessary steps under said Code.

To the extent applicable under the Code, a mandatory takeover offer remains subject to completion of the acquisition of Diageo’s stake (which is itself subject to ERCA approval).

Castel group is a leading global beverages manufacturer and is a partner to Diageo group in 11 other markets in Africa.

It expressed its commitment to driving the growth of Guinness Ghana Breweries Plc.