Zimbabwean Drinks Maker May Sell Ariston Stake, Herald Reports

By Brian Latham
April 28 (Bloomberg) -- Delta Corp., Zimbabwe’s largest brewer and soft-drinks maker, may sell its 41 percent stake in Ariston Holdings because it no longer needs foreign currency generated by the company, the Herald said, citing unidentified company officials.
Delta, 35 percent-owned by SABMiller Plc, could sell its shares in Ariston for $3.2 million, the Harare-based newspaper said today.
Zimbabwe trades using the South African rand and U.S. dollar after a decade of recession and hyper inflation devalued the Zimbabwe dollar “almost to the point of no use,” Prime Minister Morgan Tsvangirai said on Feb. 20.
Delta holds the franchise for Coca-Cola products in Zimbabwe, while Ariston mainly exports flowers, fruit and vegetables.
To contact the reporter on this story: Brian Latham at blatham@bloomberg.net