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Nigerian Breweries acquires Life Breweries from Heineken N.V.

By on October 4, 2011

Nigerian Breweries Plc Monday said that it has acquired majority equity interests in Sona Systems Associates Business Management Limited, (Sona Systems) and Life Breweries Company Limited from Heineken N.V. This transaction follows Heineken’s acquisition of controlling interests in five breweries in Nigeria from the Sona Group in January 2011.

A statement by Ageni Yusuf, Corporate Affairs Adviser to Nigeria Breweries said “The transaction had been approved by shareholders of Nigerian Breweries Plc at the company’s 65th Annual General Meeting in May this year.

“This follows an earlier recommendation by the Board of Directors which has been supported by third party professional advisers. The transaction, which has also been approved by the Securities and Exchange Commission (SEC), is effective October 1, 2011.”

According to Yusuf Sona Systems’ two breweries in Ota and Kaduna, and Life Breweries in Onitsha will now become part of Nigerian Breweries Plc, together with the three brands: Goldberg lager, Malta Gold and Life Continental lager.

Mr Nicolaas Vervelde, Managing Director/Chief Executive, Nigerian Breweries Plc, said, “The addition of these three breweries will enable us to address our existing capacity constraints as well as significantly broaden our geographic spread and strengthen our brand portfolio”.