N Seven Raises Guinness Nigeria Stake to 70.9%

N Seven Nigeria Limited, the Tolaram Group company that controls Guinness Nigeria Plc, has increased its stake in the brewer to 70.9 per cent, according to a disclosure to the Nigerian Exchange Limited (NGX).

The company bought an additional 499,987 Guinness Nigeria shares at N370.90 each, putting the value of the latest transaction at about N185.45 million.

Guinness Nigeria Company Secretary, Abimbola Ajibola-Jimoh, disclosed the purchase in a statement submitted to the NGX titled, “Notification of Share Dealing by Insiders.”

The latest purchase followed another acquisition by N Seven Nigeria on August 28, when it bought 550,092 ordinary shares in Guinness Nigeria.

That earlier deal involved 25 separate trading lots, with prices ranging from N356.40 to N384.80 per share. The transaction had a volume-weighted average price of N367.40 and was worth approximately N202.1 million.

Across the two transactions, N Seven Nigeria acquired 1,050,079 Guinness Nigeria shares for a combined value of about N387.5 million.

Guinness Nigeria currently has 2,190,382,819 ordinary shares in issue, highlighting the scale of N Seven Nigeria’s latest purchases as it strengthens its position in the Nigerian brewing company.

The increase in the Guinness Nigeria stake also reflects N Seven Nigeria’s continued ownership position following Tolaram Group’s acquisition of control of the brewer from Diageo in 2024.

N Seven Nigeria serves as Tolaram Group’s investment vehicle and completed the acquisition of Diageo’s majority shareholding in Guinness Nigeria in 2024.

The latest purchases bring renewed attention to Guinness Nigeria ownership and Tolaram Group’s position in the Nigerian beverage market.

Could N Seven Nigeria’s rising Guinness Nigeria stake lead to further changes in the brewer’s ownership structure?