O&L to sell majority stake in Namibia Breweries to Heineken South Africa
The Ohlthaver & List (O&L) Group announced its intent to sell its 50.01% share in Namibia Breweries Limited (NBL) to Heineken South Africa.
This comes after a conditional agreement was entered in which Sunside Acquisitions Proprietary Limited, a newly incorporated unlisted subsidiary of Heineken International in South Africa (Newco), will acquire O&L’s majority share in NBL Investment Holdings Limited, an investment company that has a controlling shareholding in NBL. Heineken already owns 49.99% in NBL.
“Should all the conditions be fulfilled, and the transaction be concluded, Newco would become the sole shareholder in NBL Investment Holdings Limited and accordingly, the controlling shareholder of NBL,” said O&L Executive Chairman and Chairperson of the NBL Board of Directors, Sven Thieme.
Thieme said with this agreement, NBL shareholders and stakeholders will enjoy all the benefits of being part of a global beer business with world-class systems, synergies and route to market.
“Having worked with Heineken for many years and knowing that they too are passionate about beer and share similar family values and culture to that of O&L, we are confident that Heineken is best placed to do just that,” he added.
On his part, Heinkeken’s President for Africa, Middle East and Eastern Europe, Roland Pirmez said with NBL, they see exciting opportunities to expand premium beer and cider in Namibia and grow the iconic Windhoek brand beyond its home market.
“The businesses share common values derived from their family heritage, long-term perspectives, entrepreneurial spirit, and respect for people and planet. Together we commit to being a strong partner for growth in Africa and to make a positive impact in the communities in which we operate,” Pirmez said.
In addition, NBL has received an offer from Heineken, subject to the successful completion of certain conditions, to acquire Distell Namibia. The NBL board of directors is considering the merits of this offer and has not yet made a determination whether or not to accept it.
The Managing Director of NBL, Marco Wenk said should the Distell Namibia acquisition proceed, NBL will be the exclusive partner of Newco in Namibia across all alcoholic beverage products controlled by Newco.