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Home Companies Company News

International Breweries updates on merger plans

Onome Ohwovoriole by Onome Ohwovoriole
October 19, 2017
in Company News, Corporate Press Releases
International Breweries updates on merger plans
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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.

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International Breweries closed at N46.52 in today’s NSE trading session.

Here is a  copy of the notice.


Follow us for Breaking News and Market Intelligence.
Tags: Intafact Beverages Limitedinternational breweriesPabod Breweries Limited
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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