Yemisi Izuora
Stanbic IBTC Capital, has 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 Plc, 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 283,099,431 shares (₦22.94 billion transaction value), thus increasing Tolaram’s shareholding in Guinness Nigeria from 58.02% to 70.85%
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.
“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” said Oladele Sotubo, Chief Executive of Stanbic IBTC Capital.
Dinesh Rathi, Group Finance Director, Tolaram 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”.
As the Nigerian business landscape continues to evolve, this deal marks a significant milestone for Stanbic IBTC Capital, underscoring its expertise in advising on complex transactions and delivering comprehensive financial solutions to clients.