In a significant development announced on June 11, 2024, Tolaram will acquire Diageo’s 58.02% shareholding in Guinness Nigeria Plc. This acquisition includes long-term licence and royalty agreements for the continued production of the Guinness brand and locally manufactured Diageo ready-to-drink and mainstream spirits brands. The transaction is expected to finalise in Fiscal 2025, pending requisite regulatory approvals in Nigeria.
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