Topping up its empowerment: Heineken SA unveils a R3bn employee ownership scheme

In its first major transaction since it bedded down its R40 billion merger with Distell, Heineken Beverages South Africa this week officially unveiled a R3 billion employee empowerment scheme.

The scheme involves handing over about 6% of the company to staff and is one of the conditions for the deal imposed by SA's competition authorities. It forms part of more than R10 billion in public interest commitments, with the local unit of the Dutch brewing giant also agreeing to, among other things, major plant investments over the next few years.

Distell, which was SA's biggest liquor group, delisted from the JSE in April after the deal with Heineken's local operation was finally given approval by the Competition Tribunal in March, nearly a year-and-half after it was first announced.