UUBO Advised Standard Bank on $90 Million Bridge Facility for Tolaram’s Stake Acquisition in Guinness Nigeria
Udo Udoma & Belo-Osagie (UUBO) advised Standard Bank of South Africa Limited on the Nigerian law aspects of a $90 million bridge facility extended to Tolaram Private Limited.
The facility will be utilised by its Nigerian subsidiary, Tolaram Africa Private Limited, to acquire a significant shareholding in Guinness Nigeria Plc, one of the country’s leading breweries. This strategic move is set to bolster Tolaram Africa’s operations and enhance the supply and distribution of consumer goods across Nigeria and the African continent.
Tolaram Africa is among Africa’s largest consumer goods players, and this transaction marks a pivotal step in scaling its infrastructure, improving access to essential goods, and driving supply chain efficiency across the region.
The UUBO team advising on the transaction was led by Yinka Edu (Partner) and Onyinye Okafor (Partner), with support from Chisom Okolie (Senior Associate), Love Olayemi (Senior Associate), and Uchechukwu Ojimba and Ikechukwu Fijo (Associates).
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