DETAIL advises on Heineken’s 5 brewery acquisition
DETAIL Commercial Solicitors recently acted as legal counsel to Sona Group (Vendor) in Heineken International BV’s purchase of Sona’s entire equity interests in 5 breweries in Nigeria.
Sona Group has over the last 10 years, been a major player amongst the 2nd tier of breweries in Nigeria - the 1st tier comprising of Guinness, SABMiller and Nigerian Breweries. This made Sona a natural target for any of the 1st tier breweries seeking to increase its market share. This purchase is so far the largest brewery deal in the Nigerian market and it increases Heineken’s capacity by 3.7Million Hectolitres.
As a firm, the most creative part of this transaction was the pre-sale reorganization of Sona’s brewery assets into a holding company, prior to its purchase by Heineken. This aspect of the transaction set a precedent as the first instance where the Securities & Exchange Commission (SEC) permitted a law firm to superintend the filing processes with SEC and has created other groundbreaking precedents in Asset restructuring in Nigeria.
The DETAIL team included: Ayuli Jemide, Lead Partner; Dolapo Kukoyi, Partner Designate and Tosin Sofowora, Solicitor.
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