Castel Group has agreed to acquire Diageo Plc’s stake in its Ghana unit and expand in the West African nation that’s just recovering from a debt crisis.
Billionaire Pierre Castel’s company will buy Diageo’s 80.4% stake at 5.15 cedis per share, Guinness Ghana Ltd. said in a statement to the Ghana Stock Exchange, valuing the company at $104 million. Guinness Ghana last traded at 5.5 cedis on Monday.
The maker of Castel beer and Baron de Lestac Bordeaux wine is betting economic recovery in Ghana, which secured a $3 billion bailout from the International Monetary Fund, will accelerate ...
