NBL sell an emotional and difficult decision – Thieme

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• TIRI MASAWI

OHLTHAVER & LIST Executive Chairman Sven Thieme said the decision to sell a controlling stake in Namibia Breweries Limited (NBL) was emotional and difficult, but important to the growth of the family empire.

He said this during a live broadcast on Desert Radio’s “Breakfast in the Desert” show.

If the proposed sale of NBL goes through regulatory approval and all processes, Heineken will take control of regional partner NBL Ltd, with a current market valuation of around 400 million euros, or nearly 8 billion Namibian dollars.

Heineken plans to buy 50.01% stake in Ohlthaver & List Group of Companies in NBL Investment Holdings, which owns 59.4% of NBL.

“It was really tough making the decision to sell the brewery, but sometimes when you build something and build value for it, it’s important to give up and look to start other businesses that have it. potential to create growth, ”Thieme said. noted.

According to Thieme, the sale of the flagship company was conceptualized over a two-year period.

“If you take a look at most of the family businesses around the world, you will understand that at some point it’s time to let go, and in this case, to not let go is almost criminal,” he said. he declares.

He said the group is still focused on expanding its ability to create employment opportunities for Namibians.

“We still have our dream of creating jobs for Namibians, and despite the ongoing planned sale, this will never be compromised. We have obviously faced a few challenges along the way, including the advent of Covid-19, but our dream is to continue to create value, employment opportunities and the growth of our business, ”he said. -he declares.

He said the group plans to use the proceeds from the multi-billion dollar sale of Namibia’s leading beer brewer to invest in the meat sector, which has shown potential for growth within a reasonable time frame.

“If you look at Hartlief, for example, he has the potential to make sure everyone will eat meat and can grow very quickly, so that’s also a consideration for improving the meat trade,” he said. -he declares.

Thieme said the group has carried out a thorough assessment of the entire company to identify the potential for investments that could grow rapidly.

SOE INFLUENCE

Thieme says he played an important role in turning around the fortunes of the Namibian Broadcasting Corporation (NBC) and Windhoek Country Club and Resort, of which he served as chairman of the board.

This despite the fact that the national broadcaster still struggles to find its place and relies heavily on state bailouts to maintain its operations.

“Of course, if I had to say which company is struggling among the public companies that I have overseen, I would say it is NBC. It offers a lot of opportunities and they can venture into different spheres including education, but they always try to do it.

“I’m pretty happy with the accomplishments we had at the Country Club, and I was also pretty happy with the contribution I made to the Development Bank of Namibia, because I started it,” he said. -he declares.


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