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The proposed transaction is subject to obtaining requisite
regulatory approvals and the parties expect to close the transaction in Q2
2024.
EnjoyCorp intends to keep Champion Breweries Plc listed on
the NGX. Heineken will continue to support Champion Breweries for a
twelve-month period after the transaction has closed to ensure a smooth
transition of ownership.
The proposed acquisition will mark EnjoyCorp’s strategic
entry into the beverage category underpinning the company’s long-term
commitment to the African consumer. The transaction will result in EnjoyCorp
taking a controlling stake in Champion Breweries, integrating it as an anchor
subsidiary.
In 2021, Heineken had purchased 1.9 billion ordinary shares
of Champion Breweries — the producer of Champion lager beer and Champ Malta —
through Raysun. This was after the Dutch brewer acquired a 57 percent stake in
the company in 2014.
The proposed acquisition will mark EnjoyCorp’s strategic
entry into the beverage category underpinning the company’s long-term
commitment to the African consumer
According to the statement, EnjoyCorp is building a
portfolio of food, beverage and hospitality brands and is poised to chart a
course of transformative growth through strategic acquisitions and visionary
leadership.
The company said it aims to inspire its customers to
explore, celebrate, and enjoy life’s moments responsibly with those who matter
most.
Meanwhile, Champion Breweries provides contract brewing and
packaging services to Nigerian Breweries Plc, a related party within the
Heineken group. The company was founded on July 31, 1974 and is headquartered
in Uyo, Nigeria.
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