Business

Multi-national brewer merges Nigerian businesses as Int’l Breweries lists 5.3bn shares

A total of 5.30 billion ordinary shares were listed on Thursday in the name of International Breweries Plc.

The additional shares arose from the scheme of merger involving International Breweries, Intafact Beverages Limited and Pabod Breweries Limited.

With the supplementary listing of 5.302 billion ordinary shares, the total issued and fully paid up shares of International Breweries increased from 3.294 billion to 8.596 billion ordinary shares.

Anheuser-Busch InBev-world’s largest brewer had merged its Nigerian businesses through a scheme of merger. The listing on Thursday marked the conclusion of the merger process.

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The three indirect Nigerian subsidiaries of Anheuser-Busch InBev-International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited were merged through a scheme of merger. International Breweries swallowed up the two other companies.

All assets, liabilities and undertakings of Intafact and Pabod including employees, real property and intellectual property rights were transferred to International Breweries upon the completion of the merger.

With the three breweries located strategically in three regions, the merger appeared to be a major plan to consolidate the operations of Anheuser-Busch InBev and take on its two main competitors in the Nigerian market.

International Breweries is located in Ilesa, Osun State in the South West region. Intafact Beverages’ brewery is ssituated in Onitsha, Anambra State in the South-East region while Pabod Breweries is located in Oginigba, Port Harcourt, Rivers Sate in the South-South region.

Anheuser-Busch InBev had recently indicated it plans to spend $400 million in establishing a major brewery in Nigeria as it moves to take on the two main Nigerian beer market leaders- Nigerian Breweries and Guinness Nigeria.

 

 

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