Anheuser - Busch InBev (AB InBev) (Euronext:ABI) (NYSE:BUD) (MEXBOL:ANB) (JSE:ANH) has entered into a binding agreement to sell its entire indirect shareholding in Distell Group Limited (Distell) to the Public Investment Corporation (SOC) Limited, acting on behalf of the Government Employees Pension Fund.
The stake comprises 58,674,000 ordinary shares or approximately 26.4% of Distell’s issued share capital.
As part of its ruling to approve the business combination with SABMiller, the Competition Tribunal required AB InBev to dispose of the Distell Shareholding.
Remgro Limited and Capevin Holdings Limited, who hold pre-emptive rights in relation to the Distell Shareholding, had confirmed that they will not exercise their pre-emptive rights triggered by the Sale.
The Sale remains subject to the approval of the South African competition authorities.
