N Seven, the new single largest shareholder of Guinness Nigeria Plc, has offered to take out minority interest at N81.60. The move followed its successful acquisition of a 58.02% controlling stake in Guinness Nigeria Plc. In a regulatory filing, N Seven seeks a mandatory takeover offer to acquire additional shares from minority shareholders at ₦81.60 per share.
The step was taken after it purchased 1,270,943,368 ordinary shares from Atalantaf Limited and Guinness Overseas Limited, cementing its majority ownership in the company. The offer will cover 481,362,887 shares from existing shareholders at the same price, offering them an opportunity to sell their holdings.
According to the terms of the offer, shareholders can opt to tender all or part of their shares by submitting an Acceptance Form during the offer window, which runs from 8:00 a.m. on Friday, 14 March 2025, to 5:00 p.m. on Friday, 4 April 2025. However, the acceptance period may be extended subject to regulatory approvals. The move is expected to consolidate N Seven’s control over Guinness Nigeria, potentially influencing the company’s future strategy, governance, and operations.
N Seven offers N81.60/s to buy out minority shareholders in Guinness Nigeria
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