Stephenson Harwood advises Phoenix Beverages Ltd on acquisition of 54.5% stake in Seychelles Breweries Ltd from Diageo plc

International law firm Stephenson Harwood LLP is advising Phoenix Beverages Ltd (PBL) on its acquisition of a 54.4% stake in Seychelles Breweries Ltd (Seybrew) from members of the Diageo Group.

Concurrently, Stephenson Harwood's commercial team advised on new licence and royalty arrangements, which will allow Seybrew to continue to brew, produce and distribute those Diageo brands which are currently produced by Seybrew in the Seychelles.

PBL, listed on the Stock Exchange of Mauritius, is a leading beverage manufacturer in Mauritius and Reunion Island. By acquiring a majority stake in Seybrew, listed on the Seychelles Stock Exchange, PBL strengthens its regional footprint and reinforces its long-term growth strategy across the Indian Ocean.

Completion of the transaction is expected in June 2025.

The Stephenson Harwood team was led by Corporate Partner Michelle Gomes, Commercial Partner Naomi Leach and Head of the firm's Africa group and Relationship Partner for PBL, Kamal Shah. They were supported by Corporate Associates Charmaine Yuen and Seline Velioglu, and Commercial Associate Matthew Angell. Employment advice was provided by Partner Richard Freedman.

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