DISTELL SHAREHOLDERS VOTE IN FAVOUR OF HEINEKEN TAKEOVER

At Distell’s AGM in February, shareholders voted in favour of Heineken’s bid to take over the South African liquor company, with more than 94% agreeing to the various proposals. Heineken made a R38.5 billion offer to take over Distell in November of last year, offering R180 per share to shareholders. Distell owns numerous South African alcohol brands across various sectors, including Savanna, Hunters Dry, Amarula and Nederburg. Heineken, which has long had a minority share in Namibia Breweries Ltd, is also set to purchase the remaining 50.01% stake from the Ohlthaver & List Group.