Daily Archives: October 11, 2016

Guinness Nigeria installs solar-powered drinking water facility in Benue community

Guinness Nigeria Plc said on Tuesday it has constructed a self-sustaining motorized solar-powered water facility in Tyowanye community in Buruku Local Government Area of Benue State.

The company said it was done in furtherance of its continued commitment to interventions that transform lives and improve the health and well-being of communities in Nigeria under its Diageo Water of Life Scheme.

LVMH Moet Hennessy wines and spirits group reports 5% revenue growth in the first nine months of 2016

LVMH Moet Hennessy Louis Vuitton, the French luxury goods maker, on Monday reported  a revenue growth of 4% in the first nine months of 2016 to €26.3bn, up from €25.3bn in 2015, with Moet Hennessy, the Wines and Spirits group posting a 5% rise in sales to €3.3bn, from €3.1bn in 2015.

AB InBev closes on SABMiller deal

Anheuser-Busch InBev (AB InBev) announced late on Monday that it has successfully completed the acquisition of SABMiller, marking the end to a process that began one year ago. The merged entity officially began trading on Tuesday.

The combined company will have operations in virtually every major market and an expanded portfolio that includes global, multi-country and local brands, providing more choices for consumers around the world.

Coke to buy SABMiller’s stake in Coca-Cola Beverages Africa

Atlanta-based Coca-Cola Company said on Monday it would buy SABMiller’s stake in Coca-Cola Beverages Africa (CCBA), the newly formed South African-based bottling group with footprints in over a dozen African countries including Nigeria.

Coca-Cola which holds 11.3% stake in CCBA, with Coca-Cola SABCO and SABMiller each holding 31.7% and 57% ownership respectively said it would exercise its change-of control-clause (right-to-buy) to SABMiller’s stake which automatically would have gone to AB InBev, the acquirer of SABMiller after the merger deal closed.