{"id":21952,"date":"2022-06-11T13:12:45","date_gmt":"2022-06-11T13:12:45","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval"},"modified":"2022-06-11T13:15:48","modified_gmt":"2022-06-11T13:15:48","slug":"nbl-confident-of-heineken-deal-approval","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval","title":{"rendered":"NBL confident of Heineken deal approval"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>LISTED beverages maker Namibia Breweries Limited’s financial director, Walder von Lieres, yesterday said he was confident the sale of 50,01% of the company to Heineken will be approved by the competition watchdog.<\/b><\/p>\n

He said this at the public consultations on the deal yesterday, citing that competition will not be negatively impacted.<\/p>\n

\u201cWe are very confident that we have presented a good case of why this is a compelling merger for Namibia Breweries and for the merging parties. We are confident that approval will be granted within the time frame set,\u201d he said.<\/p>\n

Considered to be one of the biggest deals in the country recently, Netherlands beermaker Heineken NV last year entered an agreement with the Ohlthaver & List (O&L) Group to buy its stake in Namibia Breweries Limited (NBL), valued at about N$3,5 billion.<\/p>\n

Heineken, to date, has not disclosed how much it will pay for the stake.<\/p>\n

At the public consultations in Windhoek yesterday, the Namibian Competition Commission chief executive Vitalis Ndalikokule said the deal was one of the big transactions in the economy and all views would be respected and considered in rejecting or accepting the buyout.<\/p>\n

\u201cWe want to bring the voice of all concerned before we bring the matter to our board, \u201c he said.<\/p>\n

In its full picture, Heineken is set to acquire NBL, which will also sell 25% of its stake in Heineken SA back to Heineken. The deal will also see NBL buying up the operations of Distell Group Holdings Namibia.<\/p>\n

By controlling both Distell and NBL, Hieneken is poised to strengthen its position in South Africa, control the market leader in Namibia, and further strengthen its footprint across southern Africa, the company said.<\/p>\n

According to NBL, it would remain listed on the Namibian Stock Exchange. It will also retain its own board, its own management team based in Namibia. The company said this approach follows Heineken’s global best practices where local management is responsible for running the business while drawing on expertise and support from Heineken.<\/p>\n

Heineken already owns 49,99% in NBL.<\/p>\n

NBL assured that the over 860 permanent employees \u2013 99,5% of which are citizens \u2013 will remain in the company’s employ.<\/p>\n

NBL said while there are concerns around competition, this transaction would create a more effective rival to AB InBev, the global and regional giant.<\/p>\n

The deal would also see NBL amass benefits in acquiring Distell Namibia, as it will bring a wider portfolio to consumers and \u201clocalise\u201d Distell.<\/p>\n

It will also see most of Distell volumes produced in Namibia (zero currently) \u2013 with a retail value of approximately N$1 billion. Producing locally would see the company saving on transport and the value addition and opportunities created will be localised.<\/p>\n

It is not clear how much NBL is paying to acquire 100% of Distell Namibia.<\/p>\n

At the release of interim financials, NBL indicated that it is expecting an approval either late this year or early 2023.<\/p>\n

\u201cThis transaction enhances NBL’s capabilities and creates growth opportunities, and there are no plans to move any production or sourcing of inputs out of Namibia. The deal will also have some production, finishing and packaging moved to Namibia and will grow demand for NBL products,\u201d reads the presentation by NBL<\/p>\n

The company said the deal will be good for competition, create new opportunities for input suppliers and other stakeholders.<\/p>\n

It is not clear when the final call on the approval or rejection will be communicated.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. LISTED beverages maker Namibia Breweries Limited’s financial director, Walder von Lieres, yesterday said he was confident the sale of 50,01% of the company to Heineken will be approved by the competition watchdog. He said this at the public consultations on the deal yesterday, citing that competition will not be negatively impacted. \u201cWe […]<\/p>\n","protected":false},"author":84,"featured_media":21951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-21952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNBL confident of Heineken deal approval - Namibia<\/title>\n<meta name=\"description\" content=\"LISTED beverages maker Namibia Breweries Limited's financial director, Walder von Lieres, yesterday said he was confi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBL confident of Heineken deal approval\" \/>\n<meta property=\"og:description\" content=\"LISTED beverages maker Namibia Breweries Limited's financial director, Walder von Lieres, yesterday said he was confi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-11T13:12:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-11T13:15:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_5-62a49571a60e5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"524\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NBL confident of Heineken deal approval\",\"datePublished\":\"2022-06-11T13:12:45+00:00\",\"dateModified\":\"2022-06-11T13:15:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\"},\"wordCount\":584,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_5-62a49571a60e5.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nbl-confident-of-heineken-deal-approval\",\"name\":\"NBL confident of Heineken deal approval - 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