SOUTH AFRICA: Distell competition decision looming
A decision from the South African competition authority is expected in the next few days over the merger two years ago that formed the wine and spirits group Distell.
Distell corporate affairs director Andre Steyn indicated in the South African press today that the company believed the commission was going to raise concerns regarding the merger. However the market has so far seemed unconcerned, with the company's share price remaining relatively stable.
"It (the Distell shareprice) has risen steadily over the past year, indicating that the worst-case scenario the commission requiring the unbundling of the merger is less likely to occur as time passes," stated one report.
Distell was created from the merger of Stellenbosch Farmers' Winery and Distillers Corporation in July 2000.
South African wine and spirits group Distell has posted a rise in half-year sales and volumes....
South African wine and spirit group Distell has been ordered to honour a contract it cancelled with a local grape farmer, according to reports....
Distell's broad-based black economic empowerment deal will cost about R870m (US$137m), but the new partners will be locked into an eight to 10 year agreement before any dividends are realised....
Distell today announced its broad-based transformation plans between a black economic empowerment group, certain employees and a corporate social investment trust (CSI Trust)....
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 ...
Distell has appointed Don Gallow as its new director of international operations, in place of Etienne Heyns who left the company two weeks ago. ...
The Brown-Forman Corporation has added the Durbanville Hills range of wines from South Africa to its US portfolio....
Distell's headline earnings have rocketed by 34.5% to ZAR482.2m (US$75.2m) for the year to 30 June, thanks to improved performance from all the company's assets....
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