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Corporate deals

DEAL: Moët Hennessy announces partnership with Jay-Z, acquires 50% stake in his Champagne brand

Louis Vuitton Moët Hennessy (LVMH) signs partnership agreement with Jay-Z’s Champagne brand, Armand de Brignac.

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The World’s biggest producer of Champagne, Louis Vuitton Moët Hennessy (LVMH), has announced that it has signed a partnership agreement with Armand de Brignac, a Champagne brand owned by American Hip-hop star, Shawn “Jay-Z” Carter.

The partnership which reflects a shared vision between Moët Hennessy and the hip-hop star will be anchored in the acquisition of a 50% stake in Armand de Brignac by Moët Hennessy. However, the two sides are yet to disclose the value of the transaction.

READ: Louis Vuitton acquires American jeweller, Tiffany for $16 billion 

What they are saying

Philippe Schaus, the President & CEO of Moët Hennessy, in his statement, said:

For years we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the Champagne category.

Often referred to as “Ace of Spades”, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs. Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world.

READ: Interswitch to launch multi-currency prepaid card with Kenya’s credit bank

What this partnership means

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  • Prior to the partnership agreement, Armand de Brignac was wholly owned by Jay-Z, as he increased his stakes in the Champagne brand to 100%, with the acquisition of Sovereign Brand stakes.
  • In the light of the partnership deal, the 50-50 ownership structure is essential to the alliance between Jay-Z’s brand and LVMH, as it ensures equal terms, strengths and expertise of the parties to ensure the long-term success of the brand.
  • The alliance between Moët Hennessy and Armand de Brignac, can be seen as the coming together of the world of hip-hop and luxury, as both parties seek out strategies to place wine sales back at pre-pandemic levels, with the Covid-19 pandemic adversely impacting the sales of wine world-wide.
  • The partnership is expected to grow Armand de Brignac through LVMH’s global distribution networks, as the brand is expected to leverage the conglomerate’s vast resources within the Champagne wine market segments. It comes at a difficult moment for Champagne.

In case you missed it

  • Moet and Chandon Global Ambassador, Pierre Louis Arraud says Nigeria may be its biggest market in Africa, ahead of South Africa and Kenya.
  • Diageo Holdings Plc, the world’s largest spirits maker has completed the acquisition of Aviation American Gin and its parent company Davos brands, co-owned by Hollywood star actor, Ryan Reynolds.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Corporate deals

DEAL: FMDQ Exchange admits Parthian Partners Limited’s Commercial Paper worth N20 billion

FMDQ has ratified the admission of Parthian Partners Limited’s N20 billion Commercial Paper.

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Dangote cement, FMDQ changes company name, FMDQ Clear Limited, Securities and Exchange Commission

The Board Listings, Market and Technology Committee of FMDQ has ratified the admission of Parthian Partners Limited’s commercial paper worth N20 billion into the FMDQ Exchange platform.

This is according to a verified tweet by FMDQ Exchange, which reads; “FMDQExchange is pleased to announce the approval for the registration of the Parthian Partners Limited ₦20.00 billion Commercial Paper Programme on its Platform.’’

Prior to the recent admission, Nairametrics had earlier reported that a total of six (6) commercial papers valued at N22.29 billion have been admitted to FMDQ platform since the beginning of this year, with the latest being the admission of Coronation Merchant Bank’s CP series worth N3.63 billion.

Recall that since 2014, FMDQ Exchange has continued to champion the reform of Commercial Papers market, in collaboration with the CBN and through the deployment of key initiatives and strategies, part of which made it possible for the Exchange to cross the N1 trillion mark in 2018.

What this means

  • Nairametrics understands that Parthian Partners Limited, just like other issuers quoted on the FMDQ Exchange, will enjoy some value-driven services such as; gaining access to a wide range of knowledgeable and capitalised investors, enhanced liquidity among others.
  • The Commercial Papers will enable Parthian Partners Limited plug its capital shortfalls and meet up with its short-term liquidity, sustaining its business through the process.

What you should know

  • It is pertinent to note that Commercial Papers quoted on FMDQ’s platform are quoted on FMDQ and traded on the FMDQ-Bloomberg E-Bond Trading and Surveillance System
  • FMDQ Debt Market size as at close of business on 23rd of February, 2021 currently stands at N23.07 trillion.

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Corporate deals

DEAL: FMDQ Exchange admits Coronation Merchant Bank’s Commercial Papers worth N3.63billion

FMDQ Exchange has announced the admission of Coronation Merchant Bank Series 11 and 12 CP under its ₦100.00 billion CP Issuance Programme.

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FMDQ Securities Exchange Limited has announced the admission of Coronation Merchant Bank Commercial Papers worth a combined total of N3.63 billion on its platform.

According to a disclosure by FMDQ Exchange, the admitted CPs are; a N1.29 billion Series 11 and N2.34 billion series 12 commercial papers, which are part of a N100 billion CP issuance programme ecosystem.

As part of the regulatory requirements, the admission of the aforementioned CPs is sequel to approval by the Board Listings, Markets and Technology Committee of FMDQ.

READ: DEAL: Total Nigeria Plc issues Commercial Paper worth N30 billion

The need to raise short–term capital through the CP issuance became imperative due to the impact of the pandemic on the income of most businesses.

What this means: The quotation is most likely to serve as liquidity buffers to Coronation Merchant Bank, providing short-term funds through alternative financing options, to plug capital shortfalls and sustain its business activities.

READ: FMDQ approves UACN and Flour Mills’ listing of N20.50bn commercial papers

What you should know

  • Nairametrics had earlier reported the admission of Total Nigeria Plc, Mixta Real Estate and Valency Agro Nigeria Limited Commercial Papers on the FMDQ Securities Exchange platform.
  • FMDQ Securities Exchange Limited has so far announced the admission of six (6) Commercial Papers valued at N22.29 billion in 2021.
  • By the virtue of its admission to the FMDQ platform, the recent CP will enjoy value-driven services such as global visibility, liquidity credible price formation and continuous information disclosure.
  • Coronation Merchant Bank Limited provides merchant banking services, such as; assets/fund management services, securities trading, treasury services etc., to corporate institutions, institutional investors and high net worth individuals.

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