Voluntary announcement: Disposal of Bisquit cognac business to Campari
Distell Group Limited
(Incorporated in the Republic of South Africa)
Registration number 1988/005808/06
ISIN Code: ZAE000028668
Share code: DST
(“Distell” or “the Company”)
VOLUNTARY ANNOUNCEMENT: DISPOSAL OF BISQUIT COGNAC BUSINESS
Distell today entered into a definitive agreement to sell its
cognac business, Bisquit Dubouche et Cie (“Bisquit”), to
Campari Group for an Enterprise Value of EUR52.5 million
(approximately R800m) (“the Disposal”). The Disposal is
expected to close during the first quarter of 2018.
Under the terms of the Disposal agreement, Campari will
acquire all of the shares in Bisquit, existing stock, maturing
inventory, trademarks and production facilities including
warehouses, blending cellars and a bottling plant of the
The Disposal is in line with Distell’s strategic intent to
focus on a core portfolio of categories, brands and assets
that support the Company’s growth ambitions and ultimately
generate long-term shareholder value.
The Disposal is not a categorized transaction in terms of
Section 9 of the JSE Limited Listings Requirements and this
announcement is made voluntarily.
20 December 2017
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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