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Diageo completes sale of majority stake in Seychelles Breweries
Diageo has completed the sale of its 54.4% shareholding in Seychelles Breweries to Phoenix Beverages Limited, a subsidiary of Mauritius-based IBL Group.
Seychelles Breweries will continue the production and nationwide distribution of Guinness and other Diageo brands such as Smirnoff RTDs.
The brands which are currently manufactured in Seychelles under new licence and royalty agreements, will not be affected by the deal, as Seychelles Breweries will continue to distribute Diageo’s international premium spirits brands in market.
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