Nigerian Breweries Plc has announced plans to hold an Extra-Ordinary General Meeting (EGM) on December 20, 2023. The meeting is set to take place at the Oriental Hotel in Lagos, starting at 2:00 p.m. This gathering aims to seek shareholder approval for the proposed acquisition of Distell Wines & Spirits Nigeria Limited.
The company's board, following a detailed review, met on November 16, 2023. They resolved to recommend that shareholders consider and approve the acquisition of an 80% economic interest and voting rights held by Heineken Beverages (Holding) Limited in Distell Wines & Spirits Nigeria Limited. This includes a full acquisition of Heineken's import business in Nigeria.
This strategic move aligns with Nigerian Breweries' goal of diversifying its product offerings beyond beer to include wines, spirits, and flavored alcoholic beverages. It is expected to offer growth opportunities and enhance long-term profitability for the company.
The proposed acquisition remains subject to any necessary regulatory approvals. Further details about the EGM can be accessed through official company communications.
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