Tolaram agrees to buy Diageo's 58.02% stake in Guinness Nigeria, with Diageo retaining Guinness brand ownership for licensing.
Singapore-based consumer group Tolaram agrees to buy Diageo's 58.02% shareholding in Guinness Nigeria and enter into long-term licensing and royalty agreements. Diageo retains ownership of the Guinness brand, which will be licensed to Guinness Nigeria for continued production. The deal is expected to be completed in Fiscal 2025, subject to regulatory approvals in Nigeria.
June 11, 2024
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