HeINEKEN N.V a Dutch brewing company, has proposed a Mandatory take_over bid for the acquisition of Champion Breweries Plc.
Heineken N.V made the Offer through its wholly_ owned subsidiary Raysun Nigeria Limited.
This is according to the Chairman of Champion Breweries Plc, Dr Elijah Akpan and filed with ithe Nigetian Exchange Limited .
The information was contained in a corporate action posted on the Exchange. The proposed mandatory takeover involves the acquisition of up to 1,196,766,164 ordinary shares of Champions Breweries Plc from the company’s shareholders.
Recall that in January 2021 Raysun Nigeria Limited acquired over 1. 9million shares of the local brewler Chamlion Breweries at 2.60 per share, totally N4.95billion.
This transaction assisted to raised the ownership stake of Raysum from about 60.5% recorded as of 31st December, 2020 to 84.7% .
In January 2021, the deal gave Raysun leverage of launch of take over bid .
On 10 May 2021, The Board of Raysun granted approval for a take-over offer to be made to all the other shareholders of the Company other than Raysun, for acquisition of the Offer shares representing 15.35% of the total issued and fully paid-up share capital of the Company.
Raysun has received the SEC’s authority to proceed with the Offer and will file the offer document with the SEC for registration. Following the registration, Raysun will making a tender for the Offer Shares, which the
shareholders may accept at their discretion.
The mandatory take-over is being effected in accordance with the directives of the regulator subject to the provisions of Section 131, Part XII of the Investment and Securities Act, No. 29, 2007 (as amended) and Rule 445 of the Securities and Exchange Commission (“SEC”) Rules and Regulations, 2013 (as amended).
Further to the above and in accordance with Rule 17.5 (Part C, Issuers’ Rules) of The Rulebook of The Exchange (the “Rulebook”), we hereby notify The Exchange of the Offer in fulfilment of our obligation to report such matters and will continue to do so in line with the requirements of The Rulebook.