World’s Largest Brewer Anheuser-Busch InBev Consolidates Nigeria Holdings In 3 Way Merger

by Ike Obudulu Posted on September 7th, 2017

Abuja, Nigeria. Sept 7th. Nigerian regulatory bodies, the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) have granted pre-merger approvals to the proposed combination of three businesses via scheme of merger of International Breweries Plc (IBPlc) and two other brewing companies Intafact and Pabod all indirect subsidiaries of the world’s largest brewer, Anheuser-Busch InBev (“AB InBev”) (Euronext: ABI, NYSE: BUD, MEXBOL: ANB, JSE: ANH), headquartered in Belgium . A regulatory filing on Tuesday by International Breweries Plc with the Nigerian Stock Exchange, revealed that under the terms and conditions of the proposed scheme of merger, all the assets, liabilities and undertakings of lntafact and Pabod, including employees, real property and intellectual property rights, will be transferred to IBPlc upon completion of the proposed merger.

The statement advised shareholders that the consideration to shareholders of Intafact and Pabod will be ordinary shares of lBPIc

It added that the share exchange ratio, as well as other terms and conditions of the proposed merger are provided in the scheme of Merger Document which will be dispatched to all shareholders of IBPlc, Intafact and Pabod upon receipt of an order from the Federal High Court (“FHC”) to convene separate Court-Ordered Meetings of the merging companies.

IBPlc also noted that the completion of the proposed merger is subject to the approval of the respective shareholders of lBPlc, lntafact, and Pabod and the final regulatory approvals from SEC, The NSE, Federal Inland Revenue Service, as well as the sanction by the FHC.

International Breweries Plc is an Ilesha, Nigeria based company engaged in brewing, packaging and marketing of beer, alcoholic flavored/non-alcoholic beverages and soft drinks

Intafact Beverages Limited produces and markets beer, Hero Lager. The company is based in Onitsha, Nigeria. Intafact Beverages Limited operates as a subsidiary of SABMiller plc.

Pabod Breweries Limited engages in the manufacture, distribution, and sale of beer. The company was incorporated in 1978 and is based in Port Harcourt, Nigeria.


Photo: Inside AB InBev Brewery Leuven Belgium

All three companies are indirect subsidiaries of the world’s largest brewer, Anheuser-Busch InBev, so the merger is a consolidation of it’s Nigerian businesses as it braces to challenge the dominance of Heineken’s Nigerian Breweries and Diageo’s Guinness Nigeria in Africa’s largest economy. Anheuser-Busch InBev had recently indicated it plans to invest $400 million in establishing a major brewery in Nigeria.

Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). The company diverse portfolio of well over 500 beer brands includes global brands Budweiser, Corona and Stella Artois; multi-country brands Beck’s, Castle, Castle Lite, Hoegaarden and Leffe; and local champions such as Aguila, Antarctica, Bud Light, Brahma, Cass, Chernigivske, Cristal, Harbin, Jupiler, Klinskoye, Michelob Ultra, Modelo Especial, Quilmes, Victoria, Sedrin, Sibirskaya Korona and Skol. Anheuser-Busch InBev brewing heritage dates back more than 600 years, spanning continents and generations. From it’s European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the first brewery in Brazil. Anheuser-Busch InBev has approximately 200,000 employees based in more than 50 countries worldwide.

For 2016, AB InBev’s reported revenue was 45.5 billion USD (excluding JVs and associates).

Author

Ike Obudulu

Ike Obudulu

Versatile Certified Fraud Examiner, Chartered Accountant, Certified Internal Auditor with an MBA in Finance And Investments who has both worked for and consulted with some of the world's largest companies on main street and wall street in over 20 countries, Ike brings his extensive reporting and investigations experience to bear on his role as Chief Editor.
Phone
Email

Leave a Reply