The shareholders of Nigerian Breweries Plc have approved the 80 per cent stake acquisition of Heineken Beverages (Holding) Limited in Distell Wines and Spirits Nigeria Limited.
In a recent notice filed with the Nigerian Exchange (NGX), one of the resolutions passed by shareholders included the approval of the acquisition.
Shareholders also approved the 100 per cent acquisition of the import business of Heineken Beverages (Holding) Limited in Nigeria.
The resolution in the notice sent to NGX can be found below:
“That the acquisition of (i) the 80 per cent economic interest, voting and other rights of Heineken Beverages (Holding) Limited in Distell Wines and Spirits Nigeria Limited, which interests and rights are held through Distell International Limited, and (ii) 100 per cent of the import business of HBL in Nigeria, (including the license to market, distribute and sell the imported products, as well as produce any of the imported brands locally), for the Consideration of N7.01bn and on such other terms and conditions contained in the transaction circular supporting the acquisition, as well as those the parties will negotiate and agree on in a Share Purchase Agreement), be and is hereby approved.”