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Proposed Merger among INTBREW, Intafact Beverages Limited & Pabod Breweries Limited

Proshare

Tuesday, June 6, 2017 5:25 PM /NSE

The Boards of Directors of Internal Breweries Plc (“IBPlc”), Intafact Beverages Limited and Pabod Breweries Limited have agreed to explore a combination of the three businesses via a Scheme of Merger subject to requisite regulatory and shareholders’ approvals.

The proposed merger, which was considered and approved at IBPlc’s board meeting on 2 June 2017, is expected to be beneficial to all stakeholders, particularly shareholders.

The proposed merger is expected to generate both revenue and cost synergies, enhances operational efficiencies, better resource management and more streamlined operations.

On receipt of regulatory approvals (including The Nigerian Stock Exchange and the Securities and Exchange Commission), all parties will take further steps to consummate the proposed merger including obtaining the approval of their respective shareholders at separate Court-Ordered Meetings.

All three companies, which indirect subsidiaries of Anheuser-Busch InBev SA/NV, will continue to operate as usual until the receipt of required approvals.

Further developments will be communicated to shareholders in due course.

About internal Breweries Plc

International Breweries Plc is a public limited liability company incorporated in 1971 and listed on The Nigerian Stock Exchange in 1995. The company’s principal activities are the manufacture, distribution and sale of a variety of alcoholic and non-alcoholic beverages. The company’s brewery is situated in Ilesa, Osun state.

About Intafact Beverages Limited

Intafact Beverages Limited is a private limited Liability company incorporated in February 2007. The company’s principal activities are the manufacture, distribution and sale of a variety of alcoholic and non-alcoholic beverages. The company’s brewery is situated in Onitsha, Anambra State.

About Pabod Breweris Limited

Pabod Breweries Limited is a private limited liability company incorporated in 1978. The company’s principal activities are the manufacture, distribution and sale of a variety of alcoholic and non-alcoholic beverages. The company’s brewery is situated in Oginigba, Port Harcourt, Rivers State.


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