Born in Amsterdam, Heineken has become the world’s second-largest brewer since its inception in the 1870’s. Last week, the company reached out to the Distell Group with the interest to purchase the majority of Distell’s business.

According to a recent statement made by Distell, “Shareholders are advised that Heineken has approached Distell regarding the potential acquisition of the majority of Distell’s business. Bearing in mind that there can be no certainty that an agreement will be reached, shareholders are advised to exercise caution when dealing in their Distell securities until a further announcement is made.”

The South African wine and spirit maker currently holds a value of approx. R31.8 billion. This takeover would be Heineken’s most significant transaction since its partnership with China Resource Beer Holdings in 2018.

If the transaction goes through, $7.4 billion in deals will be added and announced in the global beverage industry this year, according to data collected by Bloomberg, still making it 15 percent less than last year at this time.