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DIAGEO
Diageo, a global leader in premium spirits, has exclusively partnered with Celebr-8 Lyfe (a Tolaram Company) to enhance the availability of its iconic brands across Nigeria, following the sale of Diageo’s majority shares in Guinness Nigeria to Tolaram.
Guinness Nigeria Plc has announced the appointment of Mr. Mr Girish Sharma as Managing Director and four other Non-executive Directors following the completion of the share sale agreement between the company and now former majority shareholder Diageo.
Leading Nigerian law firm Templars has announced its role in advising Tolaram, a Singaporean conglomerate, on acquiring a 58.02% stake in Guinness Nigeria PLC from Diageo.
Guinness Nigeria Plc wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market.
On June 11, 2024, Diageo announced it had entered a deal to sell its 58.02% stake in Guinness Nigeria Plc to Tolaram, bringing an end to over five decades of direct ownership of the Nigerian subsidiary.
Tolaram will acquire Diageo’s 58.02% shareholding in Guinness Nigeria, and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brands.
Johnny Walker maker Diageo has announced it would start paper packaging Irish cream liquor, Baileys as part of a trial.
Guinness Nigeria Plc will continue to import and distribute Diageo international premium spirits products.
Ireena Vittal will also join the Audit, Nomination and Remuneration Committees on appointment.
Years of declining revenues suggest there is a better way to value Guinness.
Whilst shareholders about 42% of them will have to make do with only 4.8% dividend yield, the same cannot be said of Diageo, the parent company with 58% ownership of Guinness
Guinness Nigeria Plc has announced the appointment of Baker Magunda as its new CEO. The former CEO, Peter Ndegwa will...