World's largest spirits maker Diageo to pay up to $36M for full control of South Africa's United National Breweries

Diageo is taking full control of the South African traditional sorghum beer company United National Breweries.

The world’s largest spirits maker already owns 50% of the business and is paying up to $36m (£24m) to its partner Pestello Investments for the remainder, with an initial payment of $22m and a potential earn-out payment of a maximum of $14m.

Sorghum beer, a traditional drink of the Zulu people, contains up to 8% alcohol, is brewed from the grain sorghum and fermented with lactic acid.

Read more: Diageo takes full control of United National Breweries | Business | The Guardian.