Distell released details of the proposed Heineken acquisition for the South African based beverage distribution.

The deal represents one of the biggest foreign investments into South Africa in recent times with an offer for R180 per share, valuing Distell at R40.1B (€2.29B). The offer is a 35% and 53% premium over the 30-day and 90-day average share prices to May 17, 2021, respectively, which was the day before an announcement relating to the transaction was released. Heineken is also considering selling the Strongbow cider brand in South Africa as a proactive move toward possible competition commission concerns.