SOUTH AFRICA: KWV seals black empowerment deal
KWV Limited today confirmed the successful conclusion of its black economic empowerment (BEE) deal, with many shareholders divesting a portion, or all of their shares so that the required 25.1% stake could be attained.
This negated the company's need to issue additional shares and so dilute its share price.
The broad-based BEE initiative involving Phetogo, a consortium of black companies and organisations, and the KWV Employee Empowerment Trust (KEET), acquired its stake at R1.85 a share, the highest price realised for shares since the company converted from a co-operative in 1997.
VinPro, established to look after primary wine producer interests, after KWV became a company, offered just over 9.5m shares of its 10% shareholding in the company. It now has an 8% stake.
KWV announced that the share payment would be on 3 September.
PepsiCo is about to relaunch in South Africa, a market where Coca-Cola has had things entirely its own way for many years. Arnold Kirkby looks at PepsiCo's plans and assesses the impact the company's ...
There's nothing else like it in the just-drinks calendar. Three days, one venue and almost all our contacts, clients and collaborators under one roof. This year's London International Wine & Spirit Fa...
The flavouring scandal that rocked KWV at the end of last year has been the trigger for an upheaval in the way the South African leader will approach winemaking in the future. Chris Brook-Carter spoke...
KWV is launching a new logo and packaging for its KWV Classics range....
South African wine group KWV has appointed a senior winemaker....
Golden Kaan is to launch in the UK....
KWV has revamped its entry level brand in the UK Pearly Bay with a new label and outer packaging....
KWV International has launched the second phase of its assault on the South African market with the introduction of its KWV 3-year-old brandy and Cathedral Cellar and KWV Classic ranges as it expands ...
- It's not all bad for Diageo - Analysis
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Heineken CEO spies trouble ahead for UK
- Soft Drinks Has The Bottle to Cut Sugar - Comment
- Diageo puts Bacardi in frame with white rum ads
- Edrington appoints new board director
- Heineken ups sales, profits despite volume squeeze
- Challenges remain as Diageo posts flat FY sales
- Mast-Jagermeister closes Sidney Frank buy
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research