Diageo has agreed to sell its controlling equity stake of 58.02 per cent to Singaporean multinational, Tolaram
Foreign majority shareholder in Guinness Nigeria Plc, Diageo , on Tuesday agreed to sell its controlling equity stake of 58.02 per cent to Singaporean multinational, Tolaram , a regulatory filing at the Nigerian Exchange has said. The transaction is expected to be completed in 2025 subject to obtaining the requisite regulatory approvals in Nigeria. Tolaram , according…
Tolaram, according to the terms of agreement, will acquire Diageo’s 58.02 per cent shareholding in Guinness Nigeria and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brands.
Guinness Nigeria noted that in partnership with Tolaram, Diageo will continue to drive the brand and marketing strategy for Guinness in Nigeria, ensuring Diageo’s exceptional capabilities in brand building and innovation continue to drive long-term growth for Guinness in Nigeria. Managing Director of Guinness Nigeria, Adebayo Alli, described the announcement as an exciting moment for Guinness Nigeria, its employees, and customers.
Foreign majority shareholder in Guinness Nigeria Plc, Diageo, on Tuesday agreed to sell its controlling equity stake of 58.02 per cent to Singaporean multinational, Tolaram, a regulatory filing at the Nigerian Exchange has said. The transaction is expected to be completed in 2025 subject to obtaining the requisite regulatory approvals in Nigeria. Tolaram, according…
Diageo Guinness Nigeria Haresh Aswani Nigerian Exchange Omobola Johnson Tolaram
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