Bunmi Awonaya
The transaction is that Diageo has sold its 58.02% Shares in Guinness Nigeria PLC to Toleram.
Diageo has set up a wholly-owned International Premium Spirits business in Nigeria. So Diageo is not leaving Nigeria but exiting its majority Shareholder position in Guinness Nigeria which is a PLC.
Diageo continues to own all the Brands (patent rights) that Guinness Nigeria manufactures and will continue to license those Brands for the long term under the new Toleram majority ownership of Guinness Nigeria PLC.
