Nigerian Breweries Plc has announced it was considering acquiring an 80% stake in Distell Wines and Spirits Nigeria Limited.

According to a disclosure signed by Uaboi Agbebaku, the company secretary, the brewer informed the group and the investing public that at a specially convened meeting of the Board of Directors held on 30th May 2023, the Board was presented with an offer from Heineken Beverages, South Africa.

The statement read in part, “Nigerian Breweries Plc hereby informs the Nigerian Exchange Limited and the investing public that at a specially convened meeting of the Board of Directors of the Company held on 30th May 2023, the Board was presented with an offer from Heineken Beverages (Holdings) Limited (Heineken Beverages) of South Africa, for NB to acquire Heineken Beverages’ majority interests (via Distell International Limited) in Distell Wines & Spirits Nigeria Limited (Distell Nigeria).”

The board has however resolved to consider the offer in detail with support from external legal and financial advisers before making a decision. It stated also that the outcome of the decision will be communicated in due course.

Notably, Distell Nigeria is a subsidiary of International Limited, which is 100% owned by Heineken Beverages. Its operations are in two folds namely; the Local production of wines (still and sparkling) and ciders and Importation of wines, spirits and flavoured alcoholic beverages from Distell Group in South Africa.

Founded in 2018 with its headquarters in Lagos, Nigeria, Distell International Limited owns 80% shareholding in Distell Nigeria. Its brand portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters and Savanna.

With a diverse portfolio of brands with rich provenance and authenticity geared toward enriching lives, its products are priced across the pricing continuum to cater to a broad spectrum of consumers.

Seplat Energy and ExxonMobil have announced the extension of their Share Sale and Purchase Agreement (SSPA) for the acquisition of ExxonMobil’s share capital of Mobil Producing Nigeria Unlimited (MPNU).

The extension comes as both companies navigate ongoing legal proceedings and seek to secure regulatory approvals necessary for the transaction.

Seplat Energy, a prominent Nigerian independent oil and gas company, has been actively pursuing the acquisition of ExxonMobil’s share capital of MPNU, with the aim of strengthening its position in the industry. However, while the extended agreement is a testament to Seplat Energy’s determination to acquire ExxonMobil’s share unit, the legal challenges surrounding the deal remain complex.

Therefore, the extension of the SSPA will allow both Seplat Energy and ExxonMobil to preserve the transaction until the resolution of the ongoing legal matter with the Nigerian government.

The extended agreement also affords the opportunity for further negotiations and discussions between the two companies. It allows them to explore potential modifications to the original terms, ensuring that the finalized agreement aligns with their mutual interests and objectives.

Software company Smile Identity has expanded its operations across Africa, following the acquisition of Ghanaian company Appruve, to improve identification services.

The acquisition will enable Smile to integrate Appruve’s technology into its platform, making it more robust and efficient in the detection and prevention of fraud. Smile revealed that its recent acquisition will solidify its position as Africa’s leading identity verification and digital KYC provider.

The company further stated that it is actively fulfilling regulatory requirements to finalize the transaction for the (inclusive innovation) affiliated entities in Africa.

Speaking on the acquisition by Smile Identity, CEO of Appruve Paul Damalie said,

“These are relevant localized data that have long been left out of the bigger pool of KYC and fraud prevention. It’s these capabilities, experience, and know-how that we are bringing on board, working together with Smile, which just launched an AML product, to build a fully comprehensive product and solution for the market”.

Appruve is an API that enables the verification of user identity, fraud detection, regulatory compliance, and digital documentation.

On the other hand, Smile Identity hopes that the acquisition will help it expand its suite of APIs, which includes data, anti-fraud checks and mobile money, allowing it to cover over 1 billion Africans, the African diaspora, and 100 million African businesses, supporting over 230 documents and data types with integration options for every device and operating system combination in Africa.

Founded in 2016 with its base in Lagos, Smile Identity offers onboarding, user authentication, identity verification, and digital KYC service for Africa. It offers biometric authentication, customer onboarding, document verification, fraud prevention, user verification, KYC compliance and business verification services.

Investors Kings understands that the startup has been building their product since 2017 and are ready to take to new limits. In February 2023, Smile Identity, raised a $20 million Series B fund to ramp up their products across the continent.