Heineken will buy South Africa’s Distell Group Holdings and Namibia Breweries Limited (NBL) for $4.6 billion. Heineken is the world’s second-largest brewer based in The Netherlands.
The Dutch brewer beat rivals such as Diageo Plc and Anheuser-Busch Inbev, and the deal is said to be one of the biggest and requires investors’ approval.
Payments
The Dutch brewer will pay $2.62 billion for Distell Group, making the business worth around $38 billion. It equates to a price per share of 180 rands, approximately 1.4% less than the stock’s Friday close.
Heineken will pay $1.47 billion in cash, securing 65% of new business in South Africa.
The Dutch brewer will buy Ohlthaver & List Group of Companies’ 50.01% share in NBL Investment. Ohlthaver & List Group holds 59.4% shares ...
