Heineken NV has announced that it has agreed on a € 2.2 billion acquisition of Distell Group Holdings as part of a plan to set up new operations in South Africa.
The Dutch brewery also said it acquired a 25% stake in Heineken South Africa from Namibia Breweries for € 1.5 billion, as well as a 50.1% stake in Ohlthaver & List Group of Companies in NBL Investment Holdings.
Heineken already controls 49.99% of the company.
Once the agreements are completed, Heineken said it would transfer the assets as well as its stake in Heineken South Africa to a new company.
Heineken will own 65% of the new business, with Distell shareholders holding the rest.
“We have been successfully building our operations in Africa for more than 100 years. Today’s announcement is a vote of confidence in the long-term prospects of South Africa and Namibia, and we are committed to being a strong growth partner and having a positive impact on communities. in which we are active “, said the CEO and President of Heineken, Dolf van den Brink.
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Source From: Capital
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