New South African drinks giant formed
In March, Distell, the new South African drinks group, launched itself officially by getting listed on the Johannes-burg Stock Exchange’s Security Exchange. This followed the merger of Distiller’s Corporation and Stellenbosch Farmers’ Winery in 2000. Distell claims to be the tenth largest drinks company in the world.
The merger was met with opposition from Bulmer SA and Seagram Africa that tried to stop it through an interdict through the Cape High court. Both parties argue that the merger is notifiable in terms of the Competition’s Act. Distell, on the other hand, insists that the voting pool made up of South African breweries, KWV and Rembrandt, each with a 30% stake in the former companies, exercise the same authority in the new company. Distell has an assets base of R3..
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