GAPL Pte Ltd, which is GAB's biggest shareholder with a 51% stake, has become a wholly owned subsidiary of the Dutch brewer.
GAB told Bursa Malaysia that Heineken, the world’s third-largest brewer, had acquired London-based Diageo plc’s stake in GAPL, which was slightly below 50%.
GAPL is also the licensee for Guinness and ABC Stout distribution for the Singapore market.
In addition, Heineken has taken control of Jamaica-listed Desnoes & Geddes by buying Diageo’s 57.9% shareholding in the company, which boosted its stake to 73.3%.
“As majority owner, Heineken will be able to drive the investment and strategic direction of the operating companies in Jamaica and Malaysia. The Caribbean and South-East Asia are strategically important for Heineken,” Heineken said in a media statement.
The transaction also involves Heineken selling its 20% ownership stake in Guinness Ghana Breweries Ltd to Diageo.
GAB shares closed at RM14.28 on Wednesday, up 30 sen.