7th October, 2015 by Lauren Eads
Diageo has offloaded its brewing interests in Jamaica, Malaysia and Singapore to Dutch rival Heineken in a deal worth $780.5 million, while increasing its stake in Ghanian brewer, Guinness Ghana Breweries.

The three part deal covers three continents and will see the Dutch brewer take control of Jamaican brewer Desnoes & Geddes, which produces Red Stripe and Dragon, having acquired Diageo`s 57.9% stake. Heineken already owned 15.5% of the company, taking its stake in the company to 73.3%. It is expected to make an offer for the remaining shares in accordance with the Jamaican Takeover Code. The transaction will see Diageo`s international distribution rights to Red Stripe lager transferred to Heineken.

Heineken has also acquired Diageo`s 49.99% stake in GAPL Pte Limited (GAPL), which is listed on the Malaysian Stock Exchange, taking its stake to 100% and giving it full ownership. GAPL is the licensee for Guinness and ABC Stout distribution for the Singapore market.

`Having greater commercial control in the important regions of South-East Asia and the Caribbean will allow us to maximize the strong potential of our brands in these growth markets,` said Heineken`s chief executive officer Jean-Francois van Boxmeer in a statement.

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