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Campari recovers on the stock exchange: the market likes the minority of Capevin

Operation of over 82 million euros financed "using available liquidity"

Campari has closed today’s session of Stock Exchange in Piazza Affari in red of a "light" -0.6%. Get back some of the title, then, after the falls of recent days. Today’s announcement about the completion of the acquisition by ODC (BidCo) Limited of a minority stake of 14.6% in Capevin Holdings Proprietary Limited. The purchase price paid was GBP 69.6 million (corresponding to 82.6 million Euros at the exchange rate on the date of the transaction): the transaction, the note notes, "was financed using available liquidity". 

Capevin is the South African holding which indirectly owns, in particular, 100% of CVH Spirits Limited, a Scottish company active in the production and marketing of the renowned single malt whisky Bunnahabhain, Deanston, Tobermory and Ledaig, but also Blended Whisky Scottish Leader and Black Bottle.

The Milan company states that "the Campari group also holds the distribution rights of the CVH Spirits Limited portfolio in France and South Korea". In accordance with the articles of association of Capevin Holdings Proprietary Limited, the Italian group has exercised the right to appoint a member of the board of directors and has additional governance rights "to protect its minority position".

CVH was part of Distell Group, the South African beverage company acquired by Heineken in 2023: the company was spun off from Distell after the deal with Heineken. The South African investor Remgro is the majority shareholder of CVH. In July, Campari took over the distribution of CVH’s whiskies in France and Monaco.

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EFA News - European Food Agency
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