Consolidated Breweries Plc, Nigeria’s third largest brewer, will hold a court ordered meeting on December 4, 2014 where its shareholders are expected to review, and if deemed fit, approve resolutions for its proposed merger with Nigerian Breweries Plc.
The court ordered meeting which holds in Lagos follows the recent approval of the scheme document by the Securities and Exchange Commission (SEC).
In a statement signed by Boudewijn Haarsma, managing director, Consolidated Breweries Plc, the company revealed that it had “concluded plans to commence the dispatch to all its shareholders, of the scheme of merger document, which contains amongst other things, the notice of meeting, the consideration and other terms of the proposed merger.”
Haarsma further explained that the proposed merger, which was announced on May 9, 2014, is premised on a compelling strategic rationale as the proposed merger will enable the combined businesses to capitalise on the future growth potential of the Nigerian beer and malt market.
The proposed merger is also expected to be beneficial to employees, customers, distributors and suppliers as well as the Nigerian economy as a whole.
