Shareholders in Distell, Africa's largest cider producer, will know by the end of September whether Dutch brewing giant Heineken will be buying the majority of the groupor not, said the JSE-listed company.If the cautionary announcement that accompanied Distell's annual results this week is anything to go by, there seems to be a good chance of it going ahead, as Distell told the market it was holding off paying a dividend for the year ended June 30 2021 as one of the conditions of a possible transaction.Distell owns brands such as Nederburg wines, Savanna cider and Amarula liqueur. Protea Capital Management analyst Richard Cheesman said the "indication that Distell is making, by not paying a dividend because of the corporate activity which is in progress, is not insignificant", adding that if "the corporate activity did not seem likely, Distell would not be doing this". "This is a commitment from Distell towards making this corporate activity take place," said Cheesman.He also sa...
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