01 DEC 2015
01 DEC 2015 Press release
Diageo completes restructuring of South African operations
Diageo announces that, together with Heineken N.V. (Heineken) and The Ohlthaver & List Group of Companies, the controlling shareholder of Namibia Breweries Limited ('NBL'), they have completed the restructuring of their respective joint venture operations in South Africa and Namibia. The closing of the transaction follows the fulfilment of all conditions precedent as agreed on 28 July 2015, when the intention to restructure the joint ventures was announced. Diageo has received a total net cash consideration of c. ZAR 2.5 billion (c. £117 million) for the equity and debt positions Diageo sold in Sedibeng, DHN and NBL.
Rohit Vats +44 (0) 208 978 1064
Clemmie Raynsford +44 (0) 208 978 1221
Kirsty King +44 (0) 208 978 6855
Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer categories. These brands include Johnnie Walker, Crown Royal, J&B, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
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