Tuesday, June 18, 2024

BREAKING: Guinness share price surges on announcement of Tolaram takeover  

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Guinness Nigeria’s share price has gained over 8%, trading at N55.60 as of mid-day on June 11, 2024. The gain is coming on the heels of an announced takeover of Guinness Nigeria by Tolaram. 

Earlier today, it was announced that Tolaram will acquire Diageo’s 58.02% stake in Guinness Nigeria and establish long-term licensing and royalty agreements for the ongoing production of the Guinness brand.

Diageo’s locally manufactured ready-to-drink and mainstream spirits brands will also be licensed to the company. 

An observation of the trading window displays immense buying pressure by investors on Guinness Nigeria stocks.  

More to come…


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