N Seven raises Guinness Nigeria stake to 70.9%
By Segun-Ogundeyi Fiyinfoluwa
LAGOS — N Seven Nigeria Limited, the Tolaram Group company that controls Guinness Nigeria Plc, has increased its stake in the brewer to 70.9 per cent, according to a disclosure to the Nigerian Exchange Limited (NGX).
The company acquired an additional 499,987 Guinness Nigeria shares at N370.90 per share, in a transaction valued at about N185.45 million.
The Company Secretary of Guinness Nigeria, Abimbola Ajibola-Jimoh, disclosed the transaction in a statement sent to the NGX, titled, “Notification of Share Dealing by Insiders.”
The latest acquisition came days after N Seven Nigeria purchased 550,092 ordinary shares in Guinness Nigeria on August 28.
The earlier transaction was executed in 25 separate trading lots at prices ranging from N356.40 to N384.80 per share, with a volume-weighted average price of N367.40 and a total value of about N202.1 million.
With the two transactions, N Seven Nigeria acquired a combined 1,050,079 Guinness Nigeria shares for approximately N387.5 million.
Guinness Nigeria has 2,190,382,819 ordinary shares in issue.
N Seven Nigeria is the investment vehicle of Tolaram Group that took control of Guinness Nigeria from Diageo in 2024, following the completion of the acquisition of Diageo’s majority shareholding in the Nigerian brewer.
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