27.7%

Public Investment Corporation interest in Distell

shares and enhance its weighting in stock market indices on both the JSE and internationally.

The group said the proposed transaction would also simplify Distell’s ability to raise capital if required to support its longterm growth strategy and retain the stability and continuity of Remgro remaining an anchor shareholder in Distell.

In terms of the proposed restructuring, Distell will become a wholly-owned subsidiary of New Distell and be delisted from the JSE, with Capevin also be delisted as part of the Capevin scheme.

But the new Distell listing