Seven Up Plc has signalled to the public that it may become a private entity in the coming months after its largest shareholder, Affelka SA, indicated plans to increase its stake in the beverage making company to 100 percent.
Affelka SA plans to purchase the outstanding 27 percent of Seven Up Plc which is currently held by minority shareholders.
Affelka SA is the company’s majority shareholder, controlling 73 percent of the company’s 640.5 million ordinary shares. Its current interest in Seven Up is valued at about N62 billion.
According to Nairametrics, if the deal is given the green light by the minority shareholders, it will cost Affelka about N20.5 billion and would mean Seven Up is on its way to becoming a private organization.