10:00 AM EDT, 07/28/2025 (MT Newswires) -- (Updates with responses from Diageo ( DEO ) and Bank of America ( BAC ), and Diageo ( DEO ) recent stock movement in the last two paragraphs.)

Diageo ( DEO ) has appointed Bank of America ( BAC ) and Goldman Sachs ( GS ) to conduct a strategic review of its holding in East African Breweries, Bloomberg News reported Monday, citing people familiar with the matter.

Options under consideration may include the sale of East African Breweries' beer business alone, potentially valued at around $2 billion in a deal, the unnamed sources told the news outlet.

East African Breweries has a roughly $1.2 billion market value, with Diageo ( DEO ) holding a 65% majority stake, according to the report.

Other major brewers such as Anheuser-Busch InBev ( BUD ) could be interested in a potential transaction for the business, Bloomberg reported.

Diageo ( DEO ) and Bank of America ( BAC ) declined MT Newswires' requests for comments, while Goldman and Anheuser-Busch did not immediately respond.

Diageo ( DEO ) shares were down more than 2% in recent early trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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