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Thursday, June 13, 2024

Tolaram Paid A 60% Premium On Guinness Nigeria’s Closing Price Of ₦50 For The Shares, Implying A Value Of ₦81.60 Per Share .

Happening:- Tolaram Group is acquiring Diageo’s 58.02% stake in Guinness Nigeria Plc- This deal marks another exit of a major multinational organization from Nigeria due to economic challenges.

The transaction is expected to close in fiscal year 2025, pending regulatory approvals. Tolaram will enter into long-term licensing and royalty agreements with Diageo to continue producing Guinness and other Diageo brands locally. Guinness Nigeria will remain a publicly listed company.

Tolaram paid a 60% premium on Guinness Nigeria’s closing price of ₦50 for the shares, implying a value of ₦81.60 per share .

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