Heineken NV offered to buy South African wine and spirits maker Distell Group Holdings NV for 2.2 billion euros ($2.5 billion), the Dutch brewer’s most significant acquisition since 2018.
The company made a recommended offer of 180 rand a share, according to a statement on Monday. Heineken will also look to buy a majority stake in the owner of Namibian Breweries, a regional partner, the brewer said.
Heienken approached Distell in May about a potential takeover of most of the business, which makes South African staples such as Klipdrift brandy and Savanna cider as well as a number of wines for export.
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Distell shares traded at 182.59 rand as of the close on Friday. Distell didn’t pay a dividend for the financial year through June as a condition to Heineken’s takeover proposal.
