Remgro ‘shocked’ at Heineken’s market share own goals
Investment holding firm sheds light on the turmoil after the deal was finalised
Johann Rupert’s investment holding company Remgro has admitted that its investment in Heineken SA’s business did not get off to a smooth start, saying the Dutch company committed “own goals” on pricing ahead of the tie-up, leading to market share losses.
Remgro said Heineken committed missteps ahead of the 2023 multibillion transaction, which saw the merger of Heineken SA, Distell and Namibia Breweries giving birth to an outfit called Heineken Beverages. The Competition Tribunal approved the sale of Remgro’s controlling stake in diversified liquor group Distell to Dutch brewing giant Heineken in March 2023...
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