Guinness and Ghana Breweries Limited in Merger Talks

Accra, Dec. 18, GNA - The Boards of Guinness Ghana Limited (GGL) and Ghana Breweries Limited (GBL) on Thursday announced that they are in discussions with a view of merging their operations.

A faxed message from the Ghana Stock Exchange to the Ghana News Agency on Thursday said the proposed transaction had received the consent of Diageo PLC and Heineken International BV, majority shareholders of GGL and GBL, respectively.

The statement said discussions on the terms and structure of the proposed transaction were continuing adding it would be subject to corporate approvals as well as certain regulatory approvals, including those of the Ghana Stock Exchange and the Securities and Exchange Commission.

"A further announcement regarding the proposed Transaction will be published as soon as practicable," the statement said.