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 .
