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Foreign Investors Buy Out Nigerian Shareholders In Seven-up - Business - Nairaland

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Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Anstalk(f): 6:53am On Dec 01, 2017
Seven-Up Bottling  Company Plc has received an offer from its majority shareholder, Affelka, a privately-owned Lebanese firm,  to buy out the minority shareholders for N19.33 billion ($60 million).

Seven-Up said in a notice to the Nigerian Stock Exchange, NSE, yesterday that Affelka has offered to buy all the outstanding and issued shares of Seven-Up that it does not currently own, amounting to 171.5 million ordinary shares at N112.70 per share.

The offer price, according to the company, represents 15 percent premium of N98.00 per share, the last traded price on August 9, 2017, being the last business date the proposal was received from Affelka and 18 percent premium on N95.50, its closing price at the close of trading yesterday.

In his reaction, Sunil Sawhney, Vice Chairman, Seven-Up Bottling Company, said: “As of now, we have received an offer from the majority shareholder of the company. It’s a financial restructuring,”

He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.

Sawhney, who joined the company in a management change this year, said delisting Seven-Up from the stock exchange after the takeover would be “logical”. The takeover is subject to shareholders’ and regulatory approvals, he said.

The company’s profit started to decline in the first three months of 2015 and then posted its first loss in half-year 2016 and since then losses have widened.


http://anstalk.com/foreign-investors-buy-out-nigerian-shareholders-in-seven-up/


lalasticlala

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by MANNABBQGRILLS: 6:54am On Dec 01, 2017
And here goes 7-Up again......

4 Likes 1 Share

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by wildcatter23(m): 7:26am On Dec 01, 2017
Someone is gonna get paid.

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by chinawapz(m): 7:26am On Dec 01, 2017
How will this benefits the poors??
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by MANNABBQGRILLS: 7:27am On Dec 01, 2017
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?

5 Likes 1 Share

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by ochardbaby(m): 7:27am On Dec 01, 2017
Going going going gone !!!

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Nobody: 7:28am On Dec 01, 2017
na was oo undecided

4 Likes 4 Shares

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by shekauvsbuhari: 7:31am On Dec 01, 2017
People are becoming more health conscious, so soda companies will struggle.

4 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Nobody: 7:35am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?

Yesterday

6 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Nobody: 7:35am On Dec 01, 2017
@ buhari, nothing must happen to this one too o. Pepsi has been saving lives like kilode. The collabo with bread is unrivalled after a hard day's work

4 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by tmx21(m): 7:37am On Dec 01, 2017

I'll keep saying this... The moment we start realizing the advantage of our own zobo to all these chemically-sugared liquid is when we'll start receiving sense. 7up goodbye, who's next?

6 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Africanbest(m): 7:38am On Dec 01, 2017
best news ever,

I wish all companies in Nigeria would be given to foreigners to handle, mostly this nnpc company because the Nigerians running the place has killed everything...

imagine a manager in port Harcourt refinery saying the last time one of the plants stopped working was when the foreigners handed over to Nigerians to manage the place.

go to eleme petrochemical, which is still run by Indians and see for yourself the differences in management...
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by MANNABBQGRILLS: 7:38am On Dec 01, 2017
Camillus92:

Yesterday
Thumbs up, Mr 7-up!!

1 Like 1 Share

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by yanshDoctor: 7:40am On Dec 01, 2017
today is first of December, reason everywhere is silent. low traffic
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Edum13656: 7:40am On Dec 01, 2017
Any company/business surviving the Nigeria biz environment is actually among the best in the world.

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by rhames(m): 7:42am On Dec 01, 2017
Anstalk:
Seven-Up Bottling  Company Plc has received an offer from its majority shareholder, Affelka, a privately-owned Lebanese firm,  to buy out the minority shareholders for N19.33 billion ($60 million).

Seven-Up said in a notice to the Nigerian Stock Exchange, NSE, yesterday that Affelka has offered to buy all the outstanding and issued shares of Seven-Up that it does not currently own, amounting to 171.5 million ordinary shares at N112.70 per share.

The offer price, according to the company, represents 15 percent premium of N98.00 per share, the last traded price on August 9, 2017, being the last business date the proposal was received from Affelka and 18 percent premium on N95.50, its closing price at the close of trading yesterday.

In his reaction, Sunil Sawhney, Vice Chairman, Seven-Up Bottling Company, said: “As of now, we have received an offer from the majority shareholder of the company. It’s a financial restructuring,”

He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.

Sawhney, who joined the company in a management change this year, said delisting Seven-Up from the stock exchange after the takeover would be “logical”. The takeover is subject to shareholders’ and regulatory approvals, he said.

The company’s profit started to decline in the first three months of 2015 and then posted its first loss in half-year 2016 and since then losses have widened.


http://anstalk.com/foreign-investors-buy-out-nigerian-shareholders-in-seven-up/


lalasticlala


Another nasty excuse to take over a well managed organisation.
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by Handsomebeing(m): 7:44am On Dec 01, 2017
Lebanese? They will scatter 7up same way they did P&G. All they care about is making money for themselves n send back to their country.
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by jam04(m): 7:45am On Dec 01, 2017
This is fraud in disguise. I'm sure they must have bribed Nigeria shareholders association as Pepsi shareholders won't agree to sell their shares.
I won't be surprised either if NSE approve their delisting
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by GavelSlam: 7:46am On Dec 01, 2017
Watch how the Lebanese would manage the company to a much more profitable venture.
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by mfm04622: 7:47am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?
They have many products apart from 7-Up. They produce Pepsi which is now their flagship product

2 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by GavelSlam: 7:48am On Dec 01, 2017
Handsomebeing:
Lebanese? They will scatter 7up same way they did P&G. All they care about is making money for themselves n send back to their country.

They were the original managers of 7-UP Nigeria.
So stop saying what you don't know.

2 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by mfm04622: 7:49am On Dec 01, 2017
rhames:



Another nasty excuse to take over a well managed organisation.

1. They already own majority share in the business.
2. If it is well managed,why is it posting losses?

3 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by GavelSlam: 7:50am On Dec 01, 2017
rhames:



Another nasty excuse to take over a well managed organisation.

You guys just love creating all kinds of conspiracy theories.

7-UP was a Lebanese ownred company from inception. So what exactly do you mean?

4 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by ROCE: 7:50am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?

7up owns Pepsi, Mirinda and Limca I think
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by vedd: 7:52am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.
When truly was the last time you had a bottle of 7-Up?
They are the makers of Pepsi and other products.

2 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by lionlee216(m): 7:52am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?

Yesterday
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by MayorofLagos(m): 7:53am On Dec 01, 2017
What they are asking for is illegal. They want to get rid of the indigenous ownership. They will not achieve that but considering the depth of rot in our government, they might get it through. Consumers ought to respond in kind by boycotting 7up products.

2 Likes

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by MANNABBQGRILLS: 7:53am On Dec 01, 2017
ROCE:


7up owns Pepsi, Mirinda and Limca I think
mfm04622:

They have many products apart from 7-Up. They produce Pepsi which is now their flagship product
[quote author=mfm04622 post=62873304]


Yes, It is only the 7-up arm being taken over now.
Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by deepwater(f): 7:56am On Dec 01, 2017
GavelSlam:
Watch how the Lebanese would manage the company to a much more profitable venture.

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by silasweb(m): 7:58am On Dec 01, 2017
So people still drink 7-Up

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by chloride6: 7:58am On Dec 01, 2017
post=62872799:
*Quote*
He said the company has been making losses for some time, adding that the deal is aimed at restructuring the company.



When truly was the last time you had a bottle of 7-Up?

The 7up company makes more than just 7up.

1 Like

Re: Foreign Investors Buy Out Nigerian Shareholders In Seven-up by rhames(m): 7:59am On Dec 01, 2017
GavelSlam:


You guys just love creating all kinds of conspiracy theories.

7-UP was a Lebanese ownred company from inception. So what exactly do you mean?

It was not Lebanese owned company from inception. It was wholly owned by John Holt Plc and the majority of the shares were sold to the Lebanese in the early 1990s. It was known as Arewa Bottlers then. Its not a conspiracy theory. If you are an ardent investor in our stock exchange you will find out that trend since the past ten years is to take over profitable companies by foreign majority shareholders. Nigerian Bottling company (Coca Cola) was taken over when it was most profitable a few years ago by the Greeks (Leventis Family) and here comes 7UP.

1 Like 1 Share

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