Castel Group has agreed to acquire Diageo Plc’s stake in its Ghana unit and expand in the West African nation that’s just recovering from a debt crisis.

Guinness Ghana Breweries, in which Diageo has held an 80.4% shareholding, will remain listed on the Ghana Stock Exchange.

Spirits giant Diageo has agreed to sell its 80.4% shareholding in Guinness Ghana to Castel Group for $81 million, it said on Tuesday, continuing to refine its operating model in Africa.

Diageo announced the sale of its 80.4% shareholding in Guinness Ghana Breweries to Castel Group, building on its relationship with Castel

Diageo plc has announced the sale of its 80.4% shareholding in Guinness Ghana Breweries plc to Castel Group for $81 million, further strengthening its partnership with the French beverage giant across Africa. Despite the sale, Diageo will retain ownership of the Guinness brand and other key Diageo products currently produced by Guinness Ghana.