Heineken in talks to buy South African drinks maker Distell [Reuters]
HEINEKEN N V S/ADR (HEINY)
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Source: Reuters
By Reuters Staff 3 Min Read JOHANNESBURG (Reuters) - Heineken NV is in talks with South African drinks maker Distell about a possible acquisition, the two companies said on Tuesday, in what would mark a push into wine and spirits for the world’s second-largest brewer. Wines, spirits and cider maker Distell, which had a market capitalisation of 31.8 billion rand ($2.27 billion) at Monday’s close, said Heineken was interested in buying the majority of its business, sending its shares up more than 10% in early trade. “Heineken... confirms that it is currently engaged with Distell regarding a potential transaction. Discussions are ongoing, but note that there can be no certainty that an agreement will be reached,” Heineken said in a statement shortly after. Heineken and Distell, the world’s largest and second-largest cider makers respectively, have gone head-to-head for the cider market in South Africa since Heineken launched its Strongbow brand there in 2016. Distell has in recent years
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