Heineken extends dominance of Nigerian brewery market with potential Champion Breweries takeover
Beer maker Heineken B.V. is on track to expand its control of the Nigerian brewery business, after racking up further 1,903,609,538 ordinary shares of Champion Breweries Plc in a move bringing its stake in the Uyo-based brewer to 84.7 per cent.
Heineken, headquartered in Amsterdam, Netherlands, consummated the share acquisition through its Nigerian subsidiary, Raysun Nigeria Limited, putting it in a strong position as the majority shareholder to make a takeover attempt. It will help broaden its dominance beyond Nigeria’s most capitalised beverage maker, Nigerian Breweries Plc, where Heineken wields 37.94 per cent stake via ownership of 3,034,100,563 shares.
Consumers in Nigeria, Brazil and the United Kingdom – the brewer’s three biggest markets – drank 1 million hectolitres of Heineken brands in the 12 months of 2019, according to its 2019 financial results…
More details through:
Leave a Reply.
News Archive from before July 2018