Distell and Heineken make ‘satisfactory’ progress in talks on tie-up
Deal worth possibly more than R30bn would bulk up No 2 beer giant’s presence on continent
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.”..