Tag Archives: South Africa

AB InBev completes sale of Distell stake

Anheuser-Busch InBev said on Wednesday that it has completed the sale of its indirect shareholding in South Africa’s Distell Group, the continent’s largest wine and spirits producer to the country’s Public Investment Corporation (PIC), a state owned corporation that manages the government’s Employee Pension Fund.

The financial terms of the deal were not disclosed.

“The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller,” AB InBev said in a statement.

AB InBev to export African beer brands across the globe

Anheuser-Busch InBev said on Wednesday it plans to introduce African beer brands to its markets around the world as it seeks to make the most of its decision to acquire SABMiller.

“There are so many very unique African brands and I think it is time to sell African beers to the greater market,” said Ricardo Tadeu, Head of AB InBev’s African Operations.

AB InBev set to shed weight in South Africa

Anheuser-Busch InBev (AB InBev) is said to have sent out a voluntary severance offer to over 1,000 mid-level managers in South Africa on 12th December as it prepares to trim its workforce in the country, South African Business Day reported on Monday.

The brewer which acquired SABMiller, its nearest rival in a $103bn deal last year sent out a mouthwatering offer to mid-level managers with a 20th January deadline.

AB InBev to sell Distell stake

Anheuser-Busch InBev NV has agreed to sell SABMiller’s stake in South African spirits maker Distell Group Limited to the country’s largest Pension administrator – The Public Investment Corp (PIC) for an undisclosed amount.

According to Wednesday’s closing price on the Johannesburg Stock Exchange (JSE), the 26.4% stake is said to be worth about R8.92bn rand ($640m).

Promasidor Nigeria holds Distributors Forum in South Africa

Promasidor Nigeria Limited, makers of Cowbell and Loya milk, among others recently held its Distributors Forum in South Africa, and its Nigerian distributors were flown to Cape Town for the event dubbed – ‘Promasidor Distributors Forum’.

AB InBev YTD share price decline 27% on the JSE

Anheuser-Busch InBev (AB InBev), which listed on the Johannesburg Stock Exchange (JSE) in early January, has seen its share price fall by as much as 27%, according to a published report in the South African Business Day.

Removing the effects of currency fluctuations, the share price is down 15% in dollar terms.

South Africa’s Nampak posts 11% revenue growth despite currency losses

South Africa-based Nampak, maker of glass bottles, metal cans and a range of cardboard boxes for the beverage industry among others, said on Monday that full-year results ending 30th September 2016 was positive, with revenue rising 11% to R19.1bn ($1.4bn) and group trading profit up 4% to R1.9bn ($139m).

The performance was due to the turnaround at Glass, good trading in Nigeria and Zimbabwe, volume increases from new customers and benefits from operational improvements that resulted in improved efficiencies and cost savings. The group-wide comprehensive performance improvement plan is delivering good results,” said Nampak CEO, André de Ruyter.

South Africa’s wine trade body disputes slavery claims in vineyards

A recent documentary titled “Bitter Grapes – Slavery in the vineyards” produced by a Danish filmmaker Tom Heinemann and shown on Swedish and Danish television, two of South Africa’s biggest wine export markets, shows the poor working conditions of South African farm workers. The film paints a picture of long working hours, which are in violation of labour laws. It also shows the workers as being exposed to toxic pesticides without any protection, squalor living conditions and unofficial use of the “dop system” – an apartheid-era arrangement in which workers are paid in alcohol rather than money.

Coca-Cola Beverages Africa to have new partner by 2018, says Coke

Atlanta-based Coca-Cola said it hopes to have a new bottling partner to replace SABMiller in Coca-Cola Beverages Africa (CCBA) by 2018.

Coke announced last week that it would exercise its change-of-ownership rights to acquire SABMiller’s 57% stake in CCBA from AB InBev and find new suitable partners. The soft drinks giant said it expects about four months of negotiation with AB InBev before acquiring SABMiller’s stake and another 12 months to obtain regulatory approval from the South African authorities.

Distell takes direct control over its wines and spirits distribution in the UK

Distell Group, South African-based wine, spirits and Cider Company said it would take over the marketing and distribution of its brands in the UK, ending a contract relationship with three UK distributors.