Nigerian stocks rally for second day to one-week high
LAGOS, June 29 Nigerian stocks rallied for a second day on Thursday to a one- week high as shares in the relatively liquid banking sector gained ahead of half-year earnings, traders said.
JOHANNESBURG, April 24 South African wine and spirits maker Distell Group said on Monday it would buy a 75 percent stake in the Cruz Vodka brand from Blue Sky Brand Company.
Distell, which makes Savanna cider and Amarula cream liqueur, said Blue Sky would retain 25 percent of the brand and remain involved in it.
"The transaction strengthens Distell's portfolio in the premium vodka category, one of the fastest growing spirits categories in South Africa and which is expected to continue exhibiting strong growth in the future," the company said in a statement.
Distell, majority-owned by South African investment firm Remgro, did not provide financial details.
Blue Sky Brand Company, which was established in 2011, is a 100 percent family owned liquor company.
Its brands include Cruz Vodka, Pravda vodka, Magnum cream liqueur and Glendronach whisky. (Reporting by Nqobile Dludla; editing by Jason Neely)
* Allotted 7.56% unsecured, subordinated, fully paid-up, non-convertible, basel III compliant, tier 2 bonds amounting to INR 20 billion Source text for Eikon: Further company coverage: