* Remgro says to consider its rights related to SAB stakesale Remgro reportedly has preemptive right to stake
* Distell says sale will not affect operations (Adds background, context)
By Zimasa Mpemnyama and Martinne Geller
JOHANNESBURG/LONDON, June 1 (Reuters) - Distell's main shareholder Remgro said it would act in the bestinterests of its own shareholders and those of the South Africandrinks company in response to the enforced sale of fellowinvestor SABMiller's stake.
South Africa's Competition Commission made one of theconditions for Anheuser-Busch InBev's acquisition ofbrewer SABMiller for more than $100 billion that SABMiller mustsell its 26.4 percent Distell holding, which is worth around$565 million based on its current market value.
Anheuser-Busch InBev's acquisition is set to be approved bythe United States later this month, Bloomberg reported onWednesday.
Investment firm Remgro, which owns 52.8 percent ofDistell, said on Wednesday that it would await SABMiller'sresponse "with due consideration to the rights they have". Itdid not specify what rights it had relating to Distell or anysale of SABMiller's stake, and Reuters was unable to reach thecompany for clarification.
Late last year Remgro's chief executive told Bloomberg Newsthat it had a pre-emptive right over SABMiller's 26.4 percentholding in Distell, which sells wine, spirits and ciders, andthat it would consider exercising it if the price were right.
Bernstein analysts said they believed AB InBev would havedisposed of the Distell stake anyway, but did not expect to seeit among the merger conditions.
NO MANAGEMENT INVOLVEMENT
Separately Distell said SABMiller's exit would not impactits operations.
"SABMiller does not have any representation on the board ofDistell and has never been involved in the management ofDistell," the company said in a statement.
Though SABMiller has never elected any members to Distell'sboard, Bernstein said SABMiller had the right to do so.
Distell sells some products, such as Hunter's cider, thatcompete in the same space as SABMiller products.
Distell also owns a stake in Tanzania Distilleries Ltd, aunit of SABMiller that sells wine and spirits. It is unclearwhat AB InBev will do with SAB's stake in that business.
Meanwhile, South African Reserve Bank Governor LesetjaKganyago said Anheuser-Busch InBev's merger with SABMiller wascomplicated, but would ultimately benefit the country.
"It is a complex transaction and very difficult at thisstage to say definitively what the impact is. All that we cantell is that a priori, it is positive for South Africa," he toldReuters on the sidelines of a conference near Cape Town.
Conditions attached to the deal include a binding one thatno South African employee be laid off because of the merger, theCompetition Commission said on Tuesday.
It said it had recommended to the Competition Tribunal,which has the ultimate say, that the deal be "approved withconditions." Its recommendations are usually upheld.($1 = 15.6233 rand) (Reporting by Zimasa Mpemnyama and Wendell Roelf; Editing byJames Macharia, Alexander Smith and Alexandra Hudson)