Nigerian Breweries Plc notified The Nigerian Stock Exchange that the company has obtained the approval of the Securities & Exchange Commission (SEC) to the scheme for the proposed merger of Nigerian Breweries Plc and Consolidated Breweries Plc.
With the approval, the two companies will next approach the Federal High Court for its Order to enable the companies convene their separate general meetings (Court-Ordered Meetings) for the purpose of obtaining the approval of the respective shareholders to the proposed merger.
The Scheme of Merger document containing the details of the consideration and other terms of the proposed merger will be sent to the shareholders of the two companies ahead of the Court-Ordered Meeting.
Nigerian Breweries Plc will keep The Exchange and other stakeholders informed of further developments particularly on the date and venue of the Court-Ordered Meetings as soon as it obtains the said Order.
Source: NSE
