Namibia’s largest private company group, the Ohlthaver & List (O&L) Group, entered into a conditional agreement with a subsidiary of Heineken International that will see the latter acquire O&L’s 50.01 percent share in Namibia Breweries Limited (NBL).
Sunside Acquisitions Proprietary Limited, a newly incorporated unlisted subsidiary of Heineken International in South Africa, will acquire the shares in NBL Investment Holdings Limited, an investment company that has a controlling shareholding in NBL.
“The O&L Group, with its majority shareholding in NBL, has reached consensus to unleash the unlimited potential of our flagship business, by letting NBL out of its nest to spread its wings and rightfully earn its deserved space in the global arena,” O&L executive chairman and chairperson of the NBL board of directors, Sven Thieme, said in an announcement on Monday.
According to Thieme, NBL will remain a Namibian company listed on the Namibian Stock Exchange.
“NBL shareholders and stakeholders will enjoy all the benefits of being part of a global beer business with world-class systems, synergies and route to market,” he said, adding that the opportunities for brands born and bred in Namibia will include having access to global platforms that come with being part of a trusted international company like Heineken.
“We remain committed to our country and look forward to embracing and writing this next chapter together,” Thieme said.
NBL is a leading beverage manufacturing company founded in 1920 in Namibia. Enditem