Diagoe Plc, world’s largest spirits maker and Heineken NV announced a deal Wednesday, valued at $780.5 million.

The deal would see Diagoe sell its 57.9 percent stake in a Jamaican brewery, Desnoes & Geddes (D&G), makers of Red Stripe and Dragon Stout to Heineken. The transaction would increase the Dutch brewer’s ownership of D&G from 15.4 percent to 73.3 percent.