Champion Breweries’ Minority Shareholders to Earn N3.1bn in 3 Weeks

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By Dipo Olowookere

Minority shareholders of Champion Breweries are expected to pocket about N3.1 billion within three weeks and give up their stake in the company.

One of the leading brewery companies in the world, Heineken, is taking over the full ownership of Champion Breweries Plc through Raysun Nigeria Limited.

Heineken, which has a significant stake in Nigerian Breweries Plc, is on a mission to dominate the beer sector in Nigeria and swallowing Champion Breweries is one of the ways it intends to achieve this goal.

Nigerian Breweries competes in the beer industry with the likes of International Breweries, Guinness Nigeria and others, though it remains a very formidable force.

To full take charge of Champion Breweries, Raysun is offering to pay N2.60 each for the 1,196,799,164 ordinary shares held by minority investors.

The Securities and Exchange Commission (SEC) recently authorised this transaction and on Monday, January 10, 2022, the mandatory takeover offer (MTO) commenced and it is expected to end on Monday, January 31, 2022.

The Nigerian Exchange (NGX) Limited confirmed this development in a circular to the market on Tuesday.

“We refer to our market bulletin of 30 December 2021 with reference number:      NGXREG/LRD/MB62/21/12/30 where the market was notified of the proposed mandatory takeover offer of one billion, one hundred and ninety-six million, seven hundred and ninety-nine thousand, one hundred and sixty-four (1,196,799,164) ordinary shares of Champion Breweries Plc at N2.60 per share by The Raysun Nigeria Limited.

“Trading license holders are hereby reminded that the MTO opened on Monday, January 10, 2022, and will close on Monday, January 31, 2022.

“The qualification date for the MTO was Friday, December 31, 2021,” the disclosure stated.

Last October, the rumour of the potential takeover of Champion Breweries by Heineken sparked a renewed interest in the stock, causing it to rise by 49.52 per cent in one week at the exchange to N3.14 per unit.

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