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 Nigerian shareholders have called on the capital market regulators to commence a forensic audit of Nigeria’s 7Up Bottling Company to unravel circumstances surrounding recent news of a planned buyout by Affelka, its parent company. The shareholders who spoke to Daily Sun on telephone had argued that they were unconvinced that the recent takeover notification of […]
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 […]
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