HEINEKEN completes restructuring of South African and Namibian operations

HEINEKEN completes restructuring of South African and Namibian operations

Amsterdam, 1 December 2015 - Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) today announces that HEINEKEN, Diageo plc and The Ohlthaver & List ('O&L') Group of Companies, the controlling shareholder of Namibia Breweries Limited ('NBL'), have completed the restructuring of their respective joint venture operations in South Africa and Namibia. The closing of the transaction follows the fulfilment of all conditions precedent as agreed on 28 July 2015, when the intention to restructure the joint ventures was announced. In South Africa, HEINEKEN now holds a 75% stake in DHN Drinks (Pty) Limited ('DHN') and a 75% stake in Sedibeng (Pty) Limited ('Sedibeng') with NBL holding a 25% stake in both entities. In Namibia, HEINEKEN now indirectly holds a 29.9% stake in NBL. HEINEKEN paid a total net cash consideration of c. ZAR 2.0bn (c. EUR 138mln) to Diageo for the equity and debt positions it acquired in Sedibeng, DHN and NBL.  

-ENDS-