SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • Shareholders approve NB, CB merger
  • Capital Market News
  • Shareholders approve NB, CB merger
 

Shareholders approve NB, CB merger

Shareholders approve NB, CB merger

by magna / Monday, 08 December 2014 / Published in Capital Market News

The Boards of Directors of Nigerian Breweries Plc and Consolidated Breweries Plc have confirmed the receipt of approvals from their shareholders to combine both companies by way of a scheme of merger.

According to a statement from the Nigerian Breweries, the shareholders approvals were obtained at two separate court ordered meetings which were held in Lagos on December 4, 2014.

In a joint statement signed by Mr Nico Vervelde (Managing Director/Chief Executive Officer of Nigerian Breweries Plc) and Mr. Boudewijn Haarsma (Managing Director of Consolidated Breweries Plc), the companies thanked all shareholders for their active support for the proposal by their overwhelming vote of approval.

The statement also confirmed that the name of the enlarged company arising from the merger will be ‘Nigerian Breweries Plc’.

Following this shareholder endorsement, the companies will proceed to the final stage of the regulatory process with the aim of perfecting the scheme by the end of 2014.

The merger of Nigerian Breweries Plc and Consolidated Breweries Plc is expected to create value for all key stakeholders, drive benefits from increased economies of scale and enhance operating and administrative efficiencies.

With the approvals of the shareholders for the merger, for every five ordinary shares held in Consolidated Breweries as at the Terminal Date, the shareholders of the company will receive four ordinary shares in Nigerian Breweries or a Cash Consideration of N120 per share of Consolidated Breweries held.

Analysts are of the opinion that the merger will make the new enlarged company have easier access to debt and equity capital at favourable terms.

Source : Tribune

About magna

What you can read next

NTA launches eight new channels, introduces programmes
Lion’s Head, United Capital to manage ALCB fund
Finance Ministry Briefs Buhari On State Of Economy

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP