MARC HASENFUSS: The distant clinking of glasses at Capevin
Shareholders in Remgro’s unlisted liquor business might need to prepare for a smaller measure of dividends
Investors who opted to retain shares in unlisted liquor business Capevin Holdings might be offering slightly muted cheers after the final bits of the R1bn deal to terminate the long-standing Gordon’s Gin distribution agreement were totted up.
A statement issued by Capevin this month confirmed that the outstanding R300m of the R1bn payout from liquor giant Diageo had been paid in two tranches, in January and May. Capevin, which was spun out of Distell before its merger with Heineken’s African operations, now operates solely as a premium whisky business. Brands in its portfolio include Scottish Leader and Black Bottle as well as single malts Bunnahabhain, Deanston, Tobermory and Ledaig. ..
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