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businesspost - 8 days ago

Tolaram Acquires Diageo’s 58% Stake in Guinness Nigeria

By Adedapo Adesanya Tolaram has agreed to acquire Diageo’s 58.02 per cent shareholding in Guinness Nigeria Plc in a landmark deal that will trigger changes in some beverages consumed by Nigerians. Guinness made this announcement via a press release on the Nigerian Exchange (NGX) Limited on Tuesday. The transaction, expected to close in fiscal 2025 pending regulatory approvals, will also see Tolaram enter into long-term licensing and royalty agreements to continue producing the iconic Guinness brand alongside Diageo’s ready-to-drink and mainstream spirits locally. Guinness Nigeria has a market capitalisation of N110.7 billion based on its current share price of N50.5


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