Heineken Gets Final Nod On The Acquisition Of Distell

By: Trademagazin editor Date: 2023. 03. 15. 09:43

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After having issued conditional approval, the South African Competition Tribunal has approved Heineken’s offer to acquire control of Distell Group Holdings Limited, paving the way for the creation of a regional African beverage company.

Heineken first announced plans to acquire Distell and Namibia Breweries Limited in 2021. The two breweries were to be combined with Heineken South Africa to set up a new Heineken majority-owned business, Newco.

The transaction is expected to be implemented in April, the brewer added.

Heineken’s CEO and executive board chairman Dolf van den Brink, said, “We are delighted the competition tribunal has approved the deal. We are very excited to bring together three strong businesses to create a regional beverage champion, with a unique multi-category offer to better serve consumers and customers, and create shared societal value across Southern Africa.

Heineken will invest approximately €2.4 billion in Newco for a 65% shareholding.

It will comprise a cash payout of approximately €1.2 billion, funded from bonds, existing cash resources and committed credit facilities.

The contribution from assets will include 75% of HSA, 100% of its export businesses in certain other African markets, and its minority interest in NBL.

ESM