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KWV sale rumours

Published:  23 July, 2008

South African producer KWV has refused to comment on rumours that it is about to be taken over - or that it is on the verge of making a major acquisition itself.

The brandy and wine producer has confirmed that it is in discussion' with another company. Its share price reached 3 rand (25 pence) on Friday, an increase of 0.5 rand in three days.

The strongest rumour is that KWV is about to buy a 25% share in NMK Schulz, a distributor in the Cape that handles imports, wholesale and distribution of brands such as Stella Artois and Grolsch.

Other rumours include NMK taking over KWV's portfolio, with the exception of its entry-level brands such as Robert's Rock; NMK handling KWV's on-trade accounts only; and KWV creating an own-label brandy for NMK.

NMK MD Andr Homann refused to comment.