Nigerian Breweries is to ask its shareholders for permission to buy a 60% share in Distell Wines and Spirits Nigeria Limited and to acquire Heineken Beverages (Holding) Limited’s Nigerian import company.
The conference is slated to take place in Lagos the following month, per a notice that was submitted to the Nigerian Exchange Limited.
“Following the conclusion of a detailed review of the Offer, the Board met at a special meeting on November 16, 2023, and resolved as follows:” stated one section of the announcement. a) To propose to shareholders at a general meeting, for their consideration and approval, the purchase of 100% of Heineken Beverages (Holdings) Limited’s import business in Nigeria, as well as an 80% economic interest, voting rights, and other rights held by the company in Distell Wines & Spirits Nigeria Limited. These interests and rights are held through Distell International Holdings Limited.
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in Nigeria (including the authorization to advertise, distribute, and sell the imported goods and to locally manufacture any imported brands).
The Board of Nigerian Breweries Plc announced in May that it had received a bid from Heineken Beverages (Holdings) Limited to purchase the majority of Distell Wines. Distell Nigeria is a company that produces wines and ciders domestically and imports spirits, wine, and flavored alcoholic drinks.