Brief: Heineken Takeover Of Distill, Namibia Breweries Approved By South African Competition Tribunal

Heineken Holding NV

09/03/2023 12:02

March 9 (Reuters) - Heineken Nv  HEIN.AS :
    * SOUTH AFRICAN COMPETITION TRIBUNAL APPROVES HEINEKEN
ACQUIRING
CONTROL OF DISTELL AND NAMIBIA BREWERIES
    * TRANSACTION EXPECTED TO BE IMPLEMENTED FROM APRIL
    * HEINEKEN TODAY ANNOUNCED THAT SOUTH AFRICAN COMPETITION
TRIBUNAL
HAS APPROVED ITS OFFER TO ACQUIRE CONTROL OF DISTELL GROUP
    * HEINEKEN'S TOTAL INVESTMENT IN NEWCO WILL BE APPROXIMATELY
EUR
2.4 BILLION, IN RETURN FOR A 65% SHAREHOLDING
    * UPON COMPLETION HEINEKEN'S PRO-FORMA NET DEBT TO EBITDA
(BEIA)
RATIO IS EXPECTED TO INCREASE MARGINALLY
    * TRANSACTION IS EXPECTED TO BE EPS (BEIA) ACCRETIVE THIS
YEAR BY
A LOW-SINGLE-DIGIT AND, ON REALISATION OF SIGNIFICANT REVENUE
AND COST SYNERGIES, MARGIN ACCRETIVE OVER THE MEDIUM TERM

Source text for Eikon:  ID:nGNEy7hsN 
Further company coverage:  HEIN.AS 

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