Tag Archives: AB InBev Nigeria

Nigerian Breweries mulls major changes to its Board as beer war looms

Nigerian Breweries Plc has scheduled a meeting for Friday, 8th December to consider making major changes to the composition of its Board of Directors.

In a letter sent to the Nigerian Stock Exchange (NSE) on Friday, the company said that “One of the items on the agenda is a proposal for changes in the composition of the Board of Directors (“Board”) of the company.”

AB InBev restates commitment to Nigeria as it confirms construction of a new brewery

Global beer behemoth Anheuser-Busch InBev has said it is committed to a long-term investment in Nigeria. This was as the firm announced in a press conference in Lagos on Wednesday, the construction of a new brewery in the country, located in Sagamu, Ogun State, at a cost of over $250 million. The company noted that the new brewery which is expected to be completed in 2018 would be its second largest in Africa and a testament to its long-term view of the country.

International Breweries narrows loss in half-year

Ilesha-based International Breweries Plc said its losses in the first-half of the year (Apr – Sept) narrowed to N52m, from ₦1.9bn in the previous year.

The brewer blamed the loss on unrealized foreign exchange loss which skyrocketed 894% in the six months to ₦983m ($2.7 million). The maker of Trophy lager said it had a particularly difficult second quarter as much of the FX loss came from this period, rising 4,238% to ₦945m ($2.6 million). The net loss in Q2 was even far much greater, at ₦1.2bn, from ₦216m.

International Breweries merger moves a step closer to completion, gets shareholders’ approval

International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies.

With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”), as well as the sanction by the Federal High Court (“FHC”), after which, the merger becomes effective.

AB InBev to increase equity stake in Nigerian operation post-merger

Anheuser-Busch InBev, the Belgian brewer which controls three independently operated breweries in Nigeria will increase its majority equity stake in International Breweries Plc (“IBPlc”) to 75.1% following the completion of the ongoing merger of its Nigerian operations.

AB InBev announced in early June that the Board of Directors of its three indirect Nigerian subsidiaries – IBPlc, Intafact Beverages Limited and Pabod Breweries Limited had agreed to explore a merger of their operations subject to regulatory and shareholder approvals.

The firm followed up in August by announcing it had secured the needed regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock exchange (“NSE”) to merge its operations in Nigeria.

International Breweries to change its financial Year-end to December

International Breweries Plc (“IBPlc”) announced on Wednesday that it would be changing its financial year-end from 31 March to 31 December of every year.

In a statement released to the Nigerian Stock Exchange, the firm said that the first application would be for a nine months period ending 31 December, 2017.

AB InBev gets nod to merge its Nigerian breweries

International Breweries Plc (“IBPlc”), the Ilesha-based brewer owned by Anheuser-Busch InBev (AB InBev) announced on Tuesday it has received regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”) to merge with its sister companies, Intafact Beverages Limited and Pabod Breweries.

AB InBev Nigeria donates patrol vehicles to Police, Road Safety in Anambra

Onitsha-based Intafact Beverages Limited, a subsidiary of global brewer AB InBev, on Wednesday donated six Hilux patrol trucks to the Nigerian Police, Anambra State and Delta State Command and the Federal Road Safety Commission (FRSC).

At the handover ceremony at the company’s facility in Onitsha, Andries du Plessis, Managing Director, AB InBev Nigeria and Ghana, noted that the donation of vehicles was in keeping with AB InBev’s commitment to creating a better world.

International Breweries regains profitability at Year-end as revenue surges 41%

International Breweries Plc, said on Friday that year-end results for the 2016/2017 financial year ending on 31st March 2017 showed a 41% growth in revenue to N32.7bn, up from N23.3bn in the previous year.

The maker of Trophy Lager and Betamalt saw a 42% rise in Gross Profit, helped by increased capacity and further market penetration as noted by Anheuser-Busch InBev, its parent company to analysts. International Breweries spent more resources on promotions as marketing expense surged 142% to N5.09bn, from N3.6bn in the preceding year.

Anheuser-Busch InBev moves to merge its breweries in Nigeria

Anheuser-Busch InBev (AB InBev), the world’s largest brewer took steps on Tuesday to consolidate its operations in Nigeria.  International Breweries Plc, a subsidiary of the Belgian brewer announced on Tuesday that the Board of Directors of the three independently operated breweries controlled by AB InBev, namely International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited have agreed to explore a merger of their operations subject to regulatory and shareholder approvals.