Daily Archives: October 2, 2015

Nigerian Breweries Plc to raise $502 million to support growth

Nigerian Breweries Plc, a subsidiary of Heineken N.V, said it plans to sell N100 billion ($502 million) in debt to raise cash to support its growth plans even as lower oil prices is slowing consumer spending in the country.

The debt sale, which is expected by Oct. 8, will enable the company to diversify its funding and attract non-bank investors, Finance Director, Mark Rutten said in an e-mailed statement. The move demonstrates the Heineken N.V unit’s commitment to Nigeria, where it owns 11 breweries, Managing Director, Nicolaas Vervelde said.

Coca-Cola bottler, Equatorial weigh merger in Nigeria, others

Equatorial Coca-Cola Bottling Company is considering merging with other independent Coca-Cola bottlers in African countries, according to people with knowledge of the matter. It would mark the latest consolidation of the companies that bottle the famed soda brand.

Equatorial Coca-Cola, which is owned by Spain’s Cobega Invest SL, will consider merging with bottlers in African countries where it doesn’t currently operate, to expand its footprint on the continent, said people who are privy to ongoing discussions.

Ondo to launch chocolate factory in Q2 2016

The Ondo State Government said on Friday that a modern chocolate factory to process premium quality cocoa beans produced in the state would begin production of chocolate bars by April 2016.

The state’s Commissioner for Information, Hon Kayode Akinmade, disclosed the information at a news conference in Akure on Friday.

He said that the new factory will utilize the existing facility of the Cocoa Catalytic Factory in Idanre. He added that the factory would be operated by the state’s foreign technical partner, Spagnvola Chocolatier of Spain, and would have the capacity to produce enough for local consumption and export.

Gulder Ultimate Prize winners applaud brand as they redeem prizes

Winners of the various prizes at the ongoing Gulder Ultimate Promo 2015 have applauded the brand for rewarding their loyalty in an immense way.

Francis Njoku and Kolawole Ishola emerged winners at the first electronic raffle draw held in Enugu recently. Njoku, who is a Lagos-based fashion designer won a brand new Hyundai Elantra car, while Ishola won a cash prize of N100,000.