Heineken to Take Control of Distell, Namibia Breweries
November 15 2021 - 2:36AM
Dow Jones News
By Ian Walker
Heineken NV said Monday that it has agreed to buy Distell Group
Holdings Ltd. for around 2.2 billion euros ($2.52 billion) as part
of a plan to create a new South African business.
The Dutch brewer also said it is buying 25% of Heineken South
Africa from Namibia Breweries Ltd. for EUR1.5 billion as well as
Ohlthaver & List Group of Companies' 50.01% interest in NBL
Investment Holdings (Proprietary) Ltd. Heineken already owns the
49.99% of NBl Investment.
Once the deals have completed, Heineken said it will contribute
these assets as well as its interest in Heineken South Africa into
a new company. Heineken will own 65% of the new business with
Distell shareholders owning the rest.
"We have successfully built our business in Africa over 100
years. Today's announcement is a vote of confidence in the
long-term prospects of South Africa and Namibia and we commit to
being a strong partner for growth and to make a positive impact in
the communities in which we operate," Heineken Chief Executive and
Chairman Dolf van den Brink said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
November 15, 2021 02:21 ET (07:21 GMT)
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