A foreign investor in Nigerian Breweries Plc, Heineken Brouwerijen B.V, has increased its stake in the company.
The firm, in a notice to the Nigerian Stock Exchange, said Heineken, which is one of its major shareholders, increased its holdings by 274,542 units.
According to the notice, the offshore investor bought the additional stocks in three different tranches from August 11 to 13, 2020.
The transactions were reportedly executed at the NSE in Lagos and they averagely amounted to N9.8m.
A breakdown of the deal showed that in the first tranche, Heineken bought 125,964 shares at a unit price of N33.92, amounting to N4.3m and for the second transaction, the investor added 62,339 units at N36.35 each. This amounted to N2.3m. In the last purchase, it accumulated additional 86,239 stocks at N37 per unit, resulting into N3.2m.
Heineken Brouwerijen is a Dutch brewery established in 1873 by Gerard Adriaan Heineken using cutting edge technology to create a beer of high quality, investing in research and development.
However, in 2000, NB became a subsidiary of Heineken and the latter took over the former.
Four years later, NB produced the first Heineken beer in 33cl bottles and later introduced the large Heineken 60cl bottle.
The relationship between NB and Heineken dates back to 1947 when by Frank Samuel of United Africa Company and his team started the new company in Lagos.
Because UAC did not have a technical history in beer making, it entered into a technical agreement with Heineken, leading to investments from other merchandise companies in Nigeria including John Holt, GBO, SCOA, CFAO and UTC who all took some equity interest in NB.
Today, the company, which had the first locally-produced beer in Nigeria, is the market leader in the brewery industry in the country.
