By Peter Egwuatu

The majority shareholder of Seven up Bottling Company, SBC Plc , Affelka S.A. has increased the proposed acquisition offer price by 11 percent to N125 per   share from N112.70 per share initially proposed, in a bid to lure   minority shareholders to sell their shares.

Announcing this yesterday  in a notice to the Nigerian Stock Exchange, NSE, the company said:  “The majority shareholder of SBC-who is proposing to acquire all the outstanding and issued shares of SBC that are not currently owned by Affelka has today (Wednesday) advised the company that the scheme consideration has been revised upwards to N125 per share.”

The proposed scheme consideration represents a 22.6 per cent premium to the last traded share price of the company on January 9, 2018, valued at N101.97 per share and a 27.6 per cent premium to the price on August 10, 2017 which was the last business day prior to the date the initial proposal was received from Affelka.

The notice, which was signed by SBC Plc’s Company Secretary, Samuel O. Uboh, noted that the revised scheme consideration will be voted on at the Court Ordered Meeting which is scheduled for Thursday January 11, 2018.

Affelka S.A.   wants to acquire 171,542,574 ordinary shares of 50.00 kobo each, representing 26.78 percent of the company’s total share outstanding of 640,590,363 ordinary shares ‘

It will be recalled that Ziad Maalou, Managing Director, Seven Up Bottling Company Affelka S.A had offered N112.70 per share for the outstanding shares and this consideration represents a premium of 16.04 percent on the last traded share price of N97.12 of the company on December 7, 2017.