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AB InBev to grow investment in Nigeria

AB InBev to grow investment in Nigeria

Stanley Opara

Global brewing company, AB InBev, has said it will continue to grow its investment in Nigeria for a very long time.

The brewer said the ongoing merger of its subsidiaries in the country, International Breweries Plc, Intafact Breweries Limited and Pabod Breweries Limited, will further drive the commitment.

Addressing journalists in Lagos on Wednesday, the Managing Director-designate, International Breweries Plc, Annabelle Degroot, said the ongoing merger remained a step in the right direction for AB InBev and the Nigerian economy.

Degroot stated, “Following the merger, we plan to increase foreign direct investment into Nigeria, introduce some of our world-class beers into the market, and also show the world that African beers have something unique to offer.

“Alongside these, we shall be consolidating and expanding our existing Corporate Social Responsibility activities in Nigeria.”

Giving an update on the merger of the three entities, which commenced in June 2017, Degroot noted, “Significant progress has been made in the merger process, with focus now on the final stages of the process, which is expected to be concluded by the end of 2017.”

According to her, highlights of the completed stages in the merger process include receipt of the requisite approvals from the Securities and Exchange Commission and the Nigerian Stock Exchange, approval of resolutions by shareholders of the three companies during separate court-ordered meetings authorising the merger, and the subsequent sanction of the merger by the Federal High Court.

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