Coca-Cola Nigeria and the Nigerian Football Federation (NFF) on Wednesday announced a partnership which will see the soft drinks giant become an official sponsor of all the country’s national teams.
The NFF made the announcement at the official signing ceremony which took place at the Eko Hotel & Suites, Victoria Island, Lagos.
The Nigerian Stock Exchange (“NSE”) announced on Friday that it was permanently suspending the trading in shares of Seven-Up Bottling Company Plc (“7-Up Bottling Company Plc”) on the floor of “The Exchange” as it tries to determine the shareholders who will receive the Scheme Consideration following the company’s majority shareholder, Affelka S.A (“Affelka”), buyout of the remaining shares of minority shareholders it does not already own.
The Head of a French dairy firm Lactalis Group said on Sunday that its company has recalled 12 million cases of powdered baby milk in 83 countries that may have been possibly contaminated with salmonella.
The Chief Executive Officer (CEO) of Lactalis Group, Emmanuel Besnier said that the firm would compensate victims of salmonella-tainted baby milk that has sickened 37 children in France, one in Spain and a suspected case in Greece. The CEO added that the recalls were underway in an interview with French Journal du Dimanche newspaper. He said that the recall involved the Picot, Milumel, Celia and Taranis brands of powdered baby milk, adding that no new cases have been reported since 8th December, a week after the recall was first announced.
Minority shareholders of Seven-Up Bottling Company Plc on Thursday 11th January 2018 voted to sell their shares to the majority shareholder, Affelka S.A. for ₦21.4bn ($66.5 million).
At a Court-Ordered Meeting in Lagos, shareholders approved the scheme of arrangement for the buyout. With the transfer of 26.8% minority shares to Affelka, the firm’s ownership of Seven-Up increases to 100%.
Seven-Up Bottling Company Plc announced on Wednesday that Affelka S.A. (“Affelka”), the majority shareholder of the firm has raised its offer price to acquire the remaining shares of minority shareholders it does not already own at a cost of ₦21.4bn ($66.5 million)
The La casera Company, one of the leading soft drinks companies in Nigeria sees a bright future for the industry.
Speaking recently with the media, the company’s Managing Director, Roland Ebelt described the recession as a telling experience, noting that an industry that was once growing at a rate of between 5% and 10% per year since the 1990s suddenly came to a screeching halt due to a drop in consumer spending caused by the recession.
He noted that the depreciation of the naira had a profound impact on his firm and the industry as a whole as prices of raw materials such as sugar, plastic and other ingredients skyrocketed leading to record losses for industry participants.
