In a notice sent to the Nigerian Stock Exchange (NSE) today, International Breweries, Intafact Beverages Limited and Pabod Breweries Limited have approved resolutions authorizing the merger of the three companies. Consequently, the Securities and Exchange Commission (SEC) and the NSE will now be approached for their final approvals.
An application will also be made to the Federal Hich Court, after which the merger will become operative. FCMB Capital Markets Limited and Odujinrin and Adefulu are advisers to International Breweries while Stanbic IBTC Capital Limited and Udo Udoma and Bello Osagie are advisers to Intafact Beverages Limited and Pabod Beverages Limited.
International Breweries was founded in 1971 by Dr. Lawrence Omole and commenced production in December 1978 with the launch of Trophy lager. The company was listed on the Nigerian Stock Exchange in 1995.
International Breweries closed at N46.52 in today’s NSE trading session.
Here is a copy of the notice.