Heineken makes R40bn offer to buy SA’s Distell
European brewer Heineken has put a massive deal on the table, offering to buy SA’s alcohol producer Distell.
Distell, which produces Savanna and Hunters Dry, made the announcement on Monday.
The group also owns brands including Nederburg, JC le Roux, Klipdrift and Amarula.
It’s understood Heineken is offer to buy the company for R180 a share, bringing the value up to R40.1 billion.
“The transaction comprises a scheme of arrangement and certain initial steps. These initial steps will only be implemented if the transaction receives all required regulatory and other approvals,” Distell said in a statement.
“One of these initial steps entails an internal restructuring of Distell to create two separate businesses, one containing the cider, ready-to-drink beverages, and spirits and wine business and the other consisting of Distell’s remaining assets, including its Scotch whisky business which will be housed in a Distell subsidiary named Capevin.”
The cider, ready-to-drink beverages, and spirits and wine business will be combined with Heineken’s interests in Southern Africa, including Namibia and select export markets in East Africa held by Newco.
“The proposed offer demonstrates long term commitment to South Africa and Namibia, building on successful track record in Africa, including ongoing investment, employment security, localisation and supplier development, talent development and contribution to the economic development of the region.”
Distell described the move as a milestone.
ALSO READ:
