Tolaram moves to buy out minority shareholders in Guinness Nigeria
N Seven Nigeria Limited, owned by Swiss-based Tolaram, is on course to buy out the minority shareholders in brewing firm Guinness Nigeria.
The move comes less than six months after Tolaram completed the acquisition of the shareholding of British drinks giant Diageo in Guinness Nigeria.
In June last year, Tolaram signed an agreement to acquire Diageo’s 58.02% shareholding in the Nigerian brewer, whose fortunes had been worsened by the large devaluations of the country’s currency coupled with soaring inflation.
Guinness Nigeria announced on Friday that the takeover offer document has been sent directly to qualifying shareholders as at the qualification date of February 20, 2025, with acceptance opening on March 14 and closing on April 4.
“However, shareholders who have purchased shares of Guinness Nigeria after the qualification date and intend to participate in the take-over offer can access a copy of the take-over offer document on the websites of Nigerian Exchange Limited, Guinness Nigeria, Veritas Registrars Limited and Stanbic IBTC Capital Limited,” it said.
“Qualifying shareholders who hold ordinary shares in certificated form and wish to tender some or all of their ordinary shares are required to dematerialise their shares via their stockbroker to be eligible to participate in the take-over offer,” the company added.
