Heineken NV’s approach to buy South Africa’s largest wine and spirits maker undermines one complaint about the country’s response to the Covid-19 pandemic: that bans on alcohol sales drive away investment.
The world’s second-largest brewer has approached Distell Group Holdings Ltd. about a possible acquisition of most of the business, which is valued at almost $2.5 billion following a share-price surge. The two sides are now in discussions and the South African firm is considering options, a spokesman said on Tuesday.
If a deal goes ahead, the investment will give a boost to an industry that’s battled with the ...
