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Beer maker Heineken B.V. is on track to expand its control of the Nigerian brewery business, after racking up further 1,903,609,538 ordinary shares of
Champion Breweries Plc in a move bringing its stake in the Uyo-based brewer to 84.7 per cent.
That translates to 6,632,917,789 shares.
Heineken, headquartered in Amsterdam, Netherlands, consummated the share acquisition through its Nigerian subsidiary, Raysun Nigeria Limited, putting it in a strong position as the majority shareholder to make a takeover attempt.
It will help broaden its dominance beyond Nigeria’s most capitalised beverage maker,
Nigerian Breweries Plc, where Heineken wields 37.94 per cent stake via ownership of 3,034,100,563 shares.