HEINEKEN Brouwerijen B.V, a major shareholder of the largest brewer in Nigeria, has purchased 3.3 million units of additional Nigerian Breweries shares.
According to a notification to the Nigerian Stock Exchange (NSE) which was signed by the Company’s Secretary, Uaboi G. Agbebaku, the purchase was made on the bourse over three transactions on the 8th, 9th and 11th of September.
The analysis of these transactions indicates that the purchase consideration for the 3,354,227 additional units of Nigeria Breweries shares at an average price of N41.16 per unit is put at N138 million.
This purchase and previous purchases further cement Heineken Brouwerijen B.V’s status as a major shareholder with a total of 11,074,463 since 30th June.
The distribution in the global and domestic demand and supply chain negatively impacted prots of the Nigerian Breweries as profit after tax of the largest brewer dropped by as much as 58 per cent, just as the effect of the COVID-19 lockdown, which affected the trade segment of the business with decline in company sales, thus the 11 per cent drop in revenue in the first half of the year.
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