N Seven Nigeria Acquires 550,092 Shares in Guinness Nigeria

N Seven Nigeria Limited has expanded its equity stake in Guinness Nigeria Plc by acquiring 550,092 ordinary shares through an open-market transaction executed on the Nigerian Exchange Limited. The shares were purchased at varying prices between N356.40 and N384.80, resulting in a volume-weighted average price of N367.40 per share.

The transactions included a smallest block of five units at N359 per share and a largest block of 498,973 units at N384.80 per share. This acquisition follows a significant corporate restructuring in 2024, where Diageo Plc sold its 58.02 percent controlling stake in Guinness Nigeria to Tolaram Group.

Tolaram entered into long-term agreements for the production and distribution of the Guinness brand in Nigeria. N Seven, as an investment affiliate of Tolaram, is consolidating its equity amid economic challenges.

The transaction was disclosed by Company Secretary Abimbola Ajibola-Jimoh, adhering to regulatory standards for market transparency.