Bloomberg Law
May 18, 2021, 9:02 AM

Heineken in Talks on Deal for South African Drinks Maker Distell

Ruth David
Ruth David
Bloomberg News

Heineken NV, the world’s second-largest brewer, is in talks about a takeover of South African wine and spirits maker Distell Group Holdings Ltd.

Heineken approached Distell about a possible acquisition of most of its business, the South African company saidTuesday, confirming an earlier Bloomberg News report. Distell is considering its options, spokesman Frank Ford said by phone.

Distell shares jumped as much as 10%, hitting an intraday record. They were up 5.6% at 9:25 a.m. Tuesday in Johannesburg, giving the company a market capitalization of 33.6 billion rand ($2.4 billion).

Shares of Heineken advanced 0.9% in Amsterdam, ...