Nigerian Breweries has announced the continuation of its N100 billion Commercial Paper (CP) Issuance Programme.
Data revenues jumped from N56.7 billion to N79.9 billion in the period under review.
This arose from the Scheme of Merger between Dangote Sugar Refinery Plc and Savannah Sugar Company Limited (SSCL).
Dangote is on course to sell more clinker across West Africa and commence shipment to Central Africa in H2 2020.
The new issue will be made to redeem the existing N30 billion bond which was issued at 16.48%.
The Dutch firm has invested N276 million in NB since August, to increase its stake in the Brewer by 0.10%.
The purchase consideration for the 748,047 additional shares at an average price of N1,174.74 is put at N878.8 million.
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