Monthly Archives: September 2016

PepsiCo’s Q3 profit rise despite revenue decline

PepsiCo, the soft drinks giant said on Thursday that third-quarter net profits rose 274% to $1.99bn, from $533m in the previous year. The maker of Mountain Dew, Pepsi, and Frito-lay among others said that 2015 results were weighed down by a $1.36bn Venezuelan impairment charge.

US fines AB InBev $6m for Indian bribery scheme

The US Securities and Exchange Commission (SEC) said on Wednesday that Anheuser-Busch InBev (AB InBev) would pay $6 million fine for bribing Indian government officials to sell beer through third-party sales promoters at its Indian joint-venture unit.

NB builds staff Quarters in fulfillment of pledge to winner of Maltina Teacher of the Year Award

The Federal Government has applauded Nigerian Breweries Plc for its unyielding support to the development of education in Nigeria.

While speaking at the commissioning of a block of staff quarters built by Nigerian Breweries-Felix Ohiwerei Education Trust Fund at the Federal Government Girls College (FGGC), Onitsha, Anambra State, the Minister of State for Education, Professor Anthony Anwukah, said that Nigerian Breweries has demonstrated an unshakable resolve to ensure the nation’s growth and development by investing in educational infrastructure and encouraging teachers and students.

South Africa’s Remgro to raise $727m to acquire SABMiller’s stake in Distell

South Africa’s Remgro, an investment group said on Tuesday it would raise R9.9bn ($727m) to consider deals, including a right to buy SABMiller’s stake in drinks company Distell Group.

The company said it would raise the funds through a rights offer and the sale of B shares, it said in a statement on Tuesday. Investors will get 10 shares for every 100 they own at a price of R192.50 per share ($14.15) under the terms of the rights issue, which represents a 21% discount on Tuesday’s closing price of R241.72 ($17.77).

It’s a deal: AB InBev clears final hurdle to takeover SABMiller as shareholders back merger

AB InBev and SABMiller’s shareholders voted separately on Wednesday in favour of the merger of both companies.

SABMiller’s shareholders voted overwhelmingly in favour of the merger in London with 95.5% of the shareholders accepting AB InBev’s £45-a-share offer.

IFC to invest $25m (N8bn) in Promasidor to modernize plant

Promasidor Nigeria Limited, makers of Cowbell milk, Onga seasoning, Loya milk and Top tea has finalized arrangements with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain a $25m loan (over N8bn) which would be used to expand production and improve efficiency at the company’s Lagos plant.

Nutricima relaunches Olympic Milk

Nutricima Limited, the beverage unit of PZ Cussons Nigeria Plc has re-launched its premium nutritional milk, Olympic, as part of its effort to get Nigerians to take on a more active lifestyle.

As part of the re-launch, the brand will unveil its new look in the coming months in addition to a new nutrition proposition, ‘Active for Longer’ while still retaining its promise of quality nutrition and low cholesterol content.

Peak milk takes ‘PECADOMO’ campaign to neigbourhood markets across the country

peak-milk brand

Peak milk, the country’s premier milk brand from FreislandCampina WAMCO Plc is determined to enlighten Nigerians on other ways to consume milk.

Weeks after launching the “Peak Can Do More” (PECADOMO) awareness campaign, the brand is taking the crusade across the country but starting at eight major markets around the Lagos metropolis in South Western Nigeria.

The 2016 Winner of Maltina Teacher of the Year to be announced October 20

There is a high level of excitement and anticipation among teachers in the nation’s secondary schools and other education stakeholders as the October 20 date to reveal the 2016 winner of the Maltina Teacher of the Year draws near. In fact, Nigerians are anxiously awaiting the results of the work of the panel of judges who will choose the best teacher in Nigeria for 2016.

Nestle Nigeria appoints Mauricio Alarcon as new Managing Director

Nestle Nigeria Plc has announced the appointment of Mr. Mauricio Alarcon as the new Managing Director of Nestle Nigeria Plc with effect from 1 October 2016. Mr. Alarcon replaces Mr. Dharnesh Gordhon, who has taken up a new position at Nestle Indonesia.

Mr. Alarcon joined Nestle Mexico in 1999 as an Area Sales Manager in the company’s Ice Cream business. From there, he moved up the ranks to Marketing Advisor at Nestlé’s Strategic Business Unit in Switzerland; then Marketing Manager for Nestlé’s Ice cream business in Australia; Business Executive Manager at Nestlé’s Ice Cream in Egypt. Under his leadership, the ice cream business turnover in Egypt more than doubled and the profitability improved in a challenging environment.