South African Breweries (SAB) has been awarded DealMakers magazine’s Deal of the Year award for its Zenzele black economic empowerment transaction.
Fourteen deals were short-listed for this particular award category but an independent panel of judges, led by professor Mthuli Ncube, dean of the commerce faculty at the University of the Witwatersrand, voted the R7.3 billion (£639 million) Zenzele as the winner.
Under the deal, whichi was announce on July 1st 2009, 8.45 per cent of the company’s shares will ultimately be placed under black ownership.
Norman Adami, managing director at SAB, said: “We are honoured to have received this award, which recognises our goal of delivering a broad-based empowerment transaction which is both innovative and distinctive.”
DealMakers magazine announced its annual rankings and award winners for 2009 at its dinner in Sandton, Johannesburg on Wednesday, 24th February.
SAB has a vast portfolio of brands, including both international premium products and regional beers such as Aguila, Haywards Black and Peroni Leggera.