Nigeria: Guinness Nigeria says not exiting the Nigerian market

Guinness Nigeria Plc has debunked insinuations that it is exiting the Nigerian market following the sale of the majority shareholding by Diageo, a British multinational alcoholic beverage company, the Vanguard reported on June 17.

In a statement, the company which commenced operations in Nigeria in 1950 said it “wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market.”

Last week, Guinness Nigeria entered a deal with Singapore-based Tolaram Group to acquire the 58 percent stake but Diageo will retain ownership of the Guinness brand, which will be licensed to Guinness Nigeria in the long term.

“Contrary to rumours being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.

“Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives.

“The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”

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