The EU Commission today approved the joint acquisition by Diageo and Heineken of Interbrew’s stake in Namibia Breweries Ltd.


The Diageo Heineken joint venture is acquiring the stake for €31m, in a deal that sees Interbrew sell its 44% stake in NBL Investment Holdings, which owns 50.1% of Namibia Breweries. Together with their purchase of a direct 6.8% participation in the local brewer, Diageo and Heineken will control 28.9% of Namibia Breweries.


When Interbrew announced the sale in April it also said it had extended its licence agreement with Namibian Breweries for the production, marketing and distribution of the Beck’s brand in Namibia and South-Africa for a further 10 years.


Interbrew acquired a stake in Namibia Breweries through its purchase of Germany’s Becks in August 2001. However Southern Africa is not part of Interbrew’s geographic focus.


Namibian Breweries produces around 1.2m hectolitres of beer a year. It is the country’s only licensed beer maker.

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