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Diageo selling South African sorghum beer unit

British distiller Diageo PLC said Dec. 20 that it agreed to sell its South African sorghum beer unit United National Breweries (SA) (Pty) Ltd. to Zimbabwe-based beverage maker Delta Corp. Ltd.

Financial details of the transaction were not disclosed. The deal is expected to close in the second half of fiscal 2019, subject to regulatory approval.

Diageo said it expects the transaction to be EPS neutral in its first full financial year.