Heineken Brouwerijen B.V has increased its stake in Nigerian Breweries Plc.
Heineken Brouwerijen B.V (one of its major shareholders), acquired the new additional stake in shares of Nigeria Breweries Plc, according to its most recent filing signed by Uaboi G. Agbebaku, Company Secretary, with the Nigerian Stock Exchange (NSE).
The Dutch brewer acquired 6,894,409 shares of the brewer’s stock, valued at approximately ₦ 245,923,569.03 (at N35.67 per unit (average).
The company acquired the shares in three different transactions from 19th – 21st August 2020 as shown below:
- 55,000 shares at N35.13 per unit
- 66,887 shares at N35.89 per unit
- 6,772,522 shares at N35.95 per unit
Prior to the latest acquisitions, Heineken’s holdings were held by Heineken Brouwerijen B.V., 37.76 per cent; Distilled Trading International BV, 15.47 per cent and Heineken International B.V., which held 2.72 per cent.
Every additional share increases Heineken’s control on the Nigerian subsidiary. The single largest domestic stake in the widely dispersed Nigerian Breweries’ shareholding is 0.44 per cent held by Odutola Holdings Limited.
Nigerian Breweries’ turnover dropped by N18 billion to N152 billion in the first half of 2020 as Nigeria’s largest brewer continued to struggle with macroeconomic headwinds, which were exacerbated by the COVID-19 pandemic.
Key extracts of the interim report and accounts of Nigerian Breweries for the six-month period ended June 30, 2020, showed that turnover declined to N152 billion in first-half 2020 as against N170 billion recorded in the comparable period of 2019. Net profit closed first half 22020 at N5.7 billion.