Shareholders of Seven-Up Bottling Company Plc, on Thursday, approved a plan by the majority shareholder, Affelka SA to acquire the outstanding 26.8 per cent shares held by the minority shareholders. At a court-ordered meeting in Lagos, shareholders approved the scheme of arrangement for the acquisition. With the ongoing acquisition process, Affelka SA will increase its […]
Read More Seven-Up Bottling Company has received an offer from its majority shareholder, Affelka, to buy out minority stakeholders for ₦19.33 billion ($60 million), in a takeover deal aimed at restructuring the struggling company. Privately-held Affelka, the investment firm of the Lebanese El-Khalil family, has offered to acquire 171.5 million shares from minority shareholders at ₦112.70 per […]
Read More 7-UP Bottling Company Plc has reported a loss of ₦2.45bn for the first quarter of 2017. This represents a decline in the company’s business compared to the corresponding period of 2016 when it posted a profit of ₦1.265bn. Also, 7-UP reported an operating loss for the year of ₦2.45bn as against operating profit of ₦775.558m […]
Read More The board of 7UP Bottling Company has blamed Nigeria’s harsh situation for its inability to pay dividend to shareholders from its operations as it performed poorly, having recorded ₦10.7 billion loss before tax for the financial year ended March 2017. The company also stated that due to the loss, it won’t declare dividend to its […]
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Market indicators of the Nigerian Stock Exchange (NSE) on Thursday recorded the first growth for the month, reversing the three-day bearish trend. The indices appreciated by 0.16 per cent just as the volume of shares traded decreased by 45.88 per cent. The All-Share Index appreciated marginally by 52.46 points or 0.16 per cent to close […]
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