The sale sees the spirits company's shareholding in Guinness Ghana Breweries Limited (GGBL) increase to 72.42 per cent.
As a result, Heineken has gained Diageo's 57.87 per cent shareholding in D&G and 49.99 per cent in GAPL.
The transaction cost Heineken $780.5 million.
Ivan Menezes, Chief Executive of Diageo said: "The transaction we have announced today continues our proactive approach to our portfolio, enhancing our focus on the core to achieve Diageo’s performance ambition. It provides a strong route to consumer for Guinness, which will grow the brand in these markets. I am pleased that this transaction meets the clear strategic objectives of both Heineken and Diageo."
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