- Tolaram has agreed to buy Diageo’s 58.02% ownership of Guinness Nigeria and to establish long-term licensing and royalty agreements
- This means the new buyer will continue producing Guinness major spirits brands and locally-made Diageo ready-to-drink
- The transaction is expected to be completed in Fiscal 2025, subject to obtaining all necessary regulatory clearances in Nigeria.
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Tolaram has entered into an agreement to purchase Diageo’s 58.02% stake in Guinness Nigeria and enter into long-term license and royalty arrangements.
