SOUTH AFRICA: KWV to sell to black consortium
KWV Limited, the wine and spirits company, is to sell part of itself to a black economic empowerment consortium. KWV chairman Danie de Wet has called it the biggest black economic empowerment deal ever in the wine and spirits industry.
KWV, which will sell 25.1% of the company to the consortium, hopes the transaction will be completed as soon as possible. Two black directors will also sit on the company's board.
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