Stanbic IBTC Capital Facilitates Guinness Nigeria’s Offer For Tolaram

Stanbic IBTC Capital has played a pivotal role in facilitating the successful completion of Tolaram’s mandatory takeover offer for Guinness Nigeria Plc.

The company acted as Sole Financial Adviser to Tolaram (acting through N Seven Nigeria Limited) on its recently completed Mandatory Takeover Offer (MTO) to the minority shareholders of Guinness Nigeria, undertaken to comply with regulatory requirements following its acquisition of a 58.02 per cent stake in Guinness Nigeria last year.

The MTO was completed on 20 May 2025 and Guinness Nigeria minority shareholders successfully tendered a total of 283.099 million shares (N22.94 billion transaction value), thus increasing Tolaram’s shareholding in Guinness Nigeria from 58.02 per cent to 70.85 per cent.

Stanbic IBTC provided comprehensive end-to-end support across both transactions, delivering a full suite of investment banking and capital markets solutions to facilitate the successful completion of this complex corporate action.

Chief executive of Stanbic IBTC Capital, Oladele Sotubo said, “we thank Tolaram for the longstanding partnership and for trusting Stanbic IBTC Capital to handle this important MTO, having also advised Tolaram on its acquisition of Guinness Nigeria last year.”

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Group finance director, Tolaram, Dinesh Rathi stated, “we are grateful for the end-to-end support Stanbic IBTC Capital provided Tolaram throughout the MTO process. Their on-the-ground presence and expertise was invaluable in navigating the regulatory landscape and ensuring that interested Guinness Nigeria minorities were given the opportunity to sell their shares at the same price that Tolaram acquired the Guinness Nigeria stake from Diageo plc.

“Guinness Nigeria has sufficient free float despite the MTO and Tolaram intends to continue to maintain Guinness Nigeria’s listing on Nigerian Exchange Limited.”