This strategic move is aimed at capitalizing on the growth potential in the wines and spirits segment of the brewing industry.

The proposal was officially communicated to Nigeria Exchange Limited through a notification signed by Uaboi Agbebaku, the company secretary.

Heineken Beverages Limited, the parent company of Distell International Limited, extended the offer to Nigerian Breweries Plc to acquire a majority interest in Distell Wines & Spirits Nigeria Limited.

The board of Nigerian Breweries Plc has resolved to carefully evaluate the offer, seeking guidance from external legal and financial advisors.

A decision will be reached in the coming weeks, and the outcome will be communicated accordingly, according to Agbebaku.

Distell Nigeria, established in 2018 and headquartered in Lagos, operates as a subsidiary of Distell International Limited, which is fully owned by Heineken Beverages. Distell International Limited currently holds an 80% stake in Distell Nigeria.

The company is involved in the local production of wines and ciders, as well as the importation of wines, spirits, and flavored alcoholic beverages from the Distell Group based in South Africa.

The brand portfolio of Distell Nigeria includes popular names such as Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters, and Savanna.

This acquisition will further solidify Nigerian Breweries Plc’s position as a leader in the brewing industry within the Nigerian manufacturing sector

On Tuesday, Feb. 21, an off-market trade of 125.01 million Geregu Power Plc shares worth N12.5 billion was completed.

As part of its efforts to improve Africa’s energy security and industrialization, FEDA acquired a minority stake in Geregu Power.

As part of its intervention efforts in Africa’s energy sector, FEDA said it made the strategic decision to support leading energy platforms across Africa, including the renewable and transition fuels sectors.

FEDA stated that it intends to support the company as a minority investor and to collaborate with the current owners and management team to drive the company’s growth over the next few years.

Geregu and Afrexim announced in December that they had finalized an agreement for Afreximbank to buy 5% of Geregu shares on the NGX.

Geregu Power shares have increased by more than 100% since they were listed last October, and are currently trading at around N224 per share.

The deal had been put on hold after several months of legal disputes.

Twitter claims it plans to sell the business for that sum, but it did not commit to dropping its legal action against Tesla CEO Elon Musk, a multibillionaire.

“We received the letter from the Musk parties which they have filed with the SEC,” Twitter said Tuesday. “The intention of the Company is to close the transaction at $54.20 per share.”

Business mogul Elon Musk had in July terminated the $44 billion deal to buy Twitter.

He lawyers had filed a with the Securities and Exchange Commission to that effect.

Musk accused Twitter of making “false and misleading representations” about the prevalence of fake accounts on its platform.

He says the company has not complied with its obligations to share data and information that he says he needs to evaluate its business.

Access Holdings is restructuring its pension unit to shift away from the custody business into fund management.

Recall that the Group had made this announcement three months ago in a disclosure filed with the Nigeria Exchange (NGX).

This transaction is pivotal in the group’s plan to evolve from a narrow banking business to a financial service holding company positioned to gain relevant scale across Africa, global monetary centres and “beyond banking verticals.”

“This transaction is in line with our vision to create a globally connected community and ecosystem; inspired by Africa for the world,” CEO Herbert Wigwe said.

“We will deploy our renowned culture of strong risk management, innovative technology, and best practice corporate governance to deliver high standards of management and returns on pension assets to the benefit of our stakeholders,” he added