Distell, SA’s largest wine, cider and spirits maker,  says it has made satisfactory progress on a tie-up with Heineken even as it looks set to push back the time frame to release details of the takeover offer from the No 2 beer maker. 

“Satisfactory progress has been made with regard to the discussions, with certain issues still to be agreed,” Distell said in a statement on Wednesday. “The parties are committed to finalising these outstanding issues in the shortest possible timeframe and Distell will inform shareholders immediately upon their finalisation.”..

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