06:57 AM EST, 01/29/2025 (MT Newswires) -- Diageo ( DEO ) said Tuesday it is selling its 80.4% stake in Guinness Ghana Breweries to Castel Group for $81 million but will keep ownership of the Guinness brand, which will be licensed to Guinness Ghana through a long-term deal.

The company said the transaction supports its asset-light business model, aimed at improving efficiency and profitability in West Africa, while continuing to collaborate with Castel to grow the Guinness brand throughout the region.

The deal, which is still waiting for regulatory approval, is expected to be finalized this year, with Guinness Ghana continuing to trade on the Ghanaian Stock Exchange.

Diageo ( DEO ) said the sale is part of its ongoing portfolio restructuring, following the divestment of Guinness Cameroon in 2022 and Guinness Nigeria in 2024.