Heineken Gets Final Nod On The Acquisition Of Distell
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.
Related news
Heineken Contributes Close To €5bn To Spanish Economy
Heineken contributed €4.84 billion to the Spanish economy in 2023,…
Read more >Tesco expects biggest ever Christmas for no and low-alcohol
Tesco is expecting to see its biggest ever demand for…
Read more >Awards galore at the 15th POP competition
2024 was an outstanding year in the history of the…
Read more >Related news
KSH: in January, consumer prices exceeded the values of the same month of the previous year by 5.5 percent on average
Compared to January 2024, food prices increased by 6.0 percent,…
Read more >Márton Nagy: high food inflation is unacceptable, the government is ready to take action with all means to protect families
According to Márton Nagy, high food inflation is unacceptable, and…
Read more >NGM spokesperson: prices were already corrected in the last days of January
According to the Central Statistical Office (KSH), in January 2025,…
Read more >