GSK to divest bottling, drinks business in Nigeria

January 27, 2016

GSK Nigeria has said that it has received a non-binding offer from Suntory Beverage & Food Ltd (SBF) for its drinks business, comprising the bottling and distribution of Ribena and Lucozade and part of the Agbara manufacturing site.

According to the firm, the offer which GSK’s board would take a decision after the appointment of its professional advisers, would be negotiated with SBF.

The Legal Director and Company Secretary, GSK Consumer Nigeria Plc, Mr. Uche Uwechia, said any potential sale would be subject to shareholder and regulatory approvals.

Uwechia explained that the board has granted SBF access to certain due diligence information and there can be no assurance that SBF will make a binding offer, following completion of their due diligence review, or whether the terms of any such offer will be acceptable.

He said the firm was expected to inform shareholders in due course while the financial terms of SBFs non-binding offer remained confidential. Source: Daily Trust