SUNTORY Beverage & Food Limited has confirmed that Suntory Beverage & Food Asia Pacific, its subsidiary, has entered into an agreement to sell its subsidiary in Nigeria, Suntory Beverage & Food Nigeria, to Africa FMCG Distribution Ltd. According to a statement by the company, the completion of the transaction was subject to receiving merger clearance from relevant regulatory authorities in Nigeria. Anjan Patole, Managing Director of SBFN, added that the company was pleased with the outcome of the transaction. “The sale of our beverage operations in Nigeria signifies a fantastic opportunity to leverage on Chanrai’s Group expertise to expand the business and talents of our people beyond our current potential. The statement added that the sale agreement did not impact SBF’s other businesses in Africa.

Source: Punch April 15, 2022 11:21 UTC