Addleshaw Goddard has advised longstanding client Diageo on its exit from its South African and Namibian joint ventures with Heineken N.V. and Ohlthaver & List, receiving £128m for selling its shares in the various businesses that form the joint ventures.

The deal, announced on 28 July, was led by Andrew Rosling, the head of the firm's Retail & Consumer sector team and Africa Business Group, supported by corporate associates Andy Grant and Steve Conyers. Patrick Speller led a team from Nabarro which advised Heineken N.V.

Andrew Rosling, commenting on the deal, said: "This was an important strategic move by Diageo, to a focused and simplified business structure, which leverages its scale in total beverage alcohol in the region."

AG and Andrew Rosling also advised Diageo on its sale of the Gleneagles Hotel which completed in July.

For information on the firm's Retail & Consumer team please click here.