Shareholders of Champion Breweries Plc will retain their existing ownership interests under a proposed restructuring that will transfer their investments to a new listed holding company, Champion Brands Plc.
Under the proposed Scheme of Arrangement, each shareholder will receive one fully paid share in Champion Brands for every Champion Breweries share held, without making additional payments or losing their proportionate stake.
The company disclosed this in a statement explaining that Champion Brands Limited would be re-registered as a public limited liability company and become the group’s new parent company listed on the Nigerian Exchange Limited (NGX).
Under the arrangement, Champion Breweries will become a wholly owned subsidiary of Champion Brands, while enJOYbev B.V., whose portfolio includes the Bullet range of beverages, will also become a direct subsidiary of the new holding company.
The proposed exchange will cover 11,323,611,233 ordinary shares held by existing shareholders, with an equivalent number of fully paid Champion Brands shares to be issued.
Chairman of Champion Breweries, Mr Imo-Abasi Jacob, said the proposed restructuring was designed to accommodate the group’s long-term growth ambitions and expanding business interests.
“Our ambitions extend beyond the businesses and markets we serve today. We want to strengthen our existing brands, develop new products and pursue opportunities in new markets.
“The proposed structure is designed not just for the business we have today, but for the group we intend to build over the long term,” he said.
Jacob said the Board unanimously recommended that shareholders vote in favour of the Scheme, adding that the arrangement would change the group’s corporate structure without affecting shareholders’ proportionate ownership.
The Managing Director and Chief Executive Officer, Mr Malolan Sampath, said the restructuring would not disrupt the group’s operations, brands, employees, customers or suppliers.
He said Champion Breweries would continue its brewing operations in Uyo, Akwa Ibom, producing Champion Lager and Champ Malta.
Sampath explained that the proposed restructuring reflected the company’s transition from a Nigerian brewing business into a multi-category beverage group following its acquisition of enJOYbev B.V.
The acquisition expanded the group’s product portfolio and geographical presence across 14 African markets.
According to the company, the holding-company structure would provide a clearer investment proposition, greater flexibility in allocating capital across its businesses and a platform for expansion into new products, beverage categories and African markets.
Following implementation of the Scheme, Champion Breweries will be delisted from the NGX, while Champion Brands Plc will assume its position as the group’s publicly listed parent company.
The proposal is subject to shareholders’ approval and the necessary regulatory clearances.
The company said the Scheme Document, containing details of the arrangement and shareholder voting procedures, would be available free of charge through its registrars, Africa Prudential Plc.
It encouraged shareholders to study the document and seek professional advice before voting.
READ ALSO: Disu Warns Newly Promoted Police Officers Against Corruption, Abuse of Office
Lagos reopens Igando dumpsite, waste managers pledge improved collection
Champion Breweries said it expected the restructuring to be completed in the first quarter of 2027, subject to the required approvals.
It added that its shares would continue to trade normally on the NGX pending implementation of the Scheme.
About The Author
