Golden Guinea Breweries, the Umuahia, Abia State-based brewer on the cusp of making a comeback to the nation’s beer market has filed a lawsuit at a Federal High Court against Pabod Breweries Limited, a subsidiary of AB InBev.
The suit seeks N10bn general damages from Pabod for alleged infringement of Golden Guinea’s trademark for the production of Eagle Stout.
International Breweries Plc, on Thursday notified the Nigerian Stock Exchange (NSE) that it has listed 5.3bn additional shares on the Exchange, capping what has been a grueling six months for the firm to merge with its sister companies, Intafact Beverages Limited and Pabod Breweries Limited.
The brewing company which is an indirect subsidiary of Anheuser-Busch InBev and the only listed company on the NSE out of the three merging entities notified dealing members of the Nigerian Stock Exchange of the additional share listing.
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 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.
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 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.
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.
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.
SABMiller Plc, the global brewing giant in the midst of being acquired by its bigger rival, Anheuser-Busch InBev (AB InBev) has said it would increase its investment in Pabod Breweries, a Port Harcourt-based brewery it acquired in 2008 after years of neglect.
Pabod makes Grand Lager beer, Grand Malt, Castle Milk Stout, among others.
