In a 2018 interview, Peter Obi said he invested $20 million in International Breweries on behalf of Anambra state as a governor.

Obi’s claim was in response to questions on economic development, Anambra politics and his presidential ambition.

“… Anambra state is the single-highest shareholder in that facility. I invested in it, over $20 million,” Obi had said.

“It is worth almost $100 [million] today. That’s what government should do.”

TheCable had previously fact-checked some of the claims.

Chukwuma Soludo, governor of Anambra, also debunked a recent statement ascribed to him regarding the investment.

International Breweries (IB) Plc is a subsidiary of the world’s largest brewer, Anheuser-Busch InBev (AB InBev) — a multinational drink and brewing giant based in Leuven, Belgium.

In its 2021 audited financial statement, the company said it holds 43 percent economic interest in International Breweries Plc, a publicly listed company in Nigeria.

According to a report by The Nation, AB InBev merged its Nigerian operations under a single corporate entity in 2017. It had three indirect Nigerian subsidiaries — International Breweries Plc, Intafact Beverages Limited and Pabod Breweries Limited. SABMiller Nigeria Holdings BV — another subsidiary of AB InBev — was also a major stakeholder in Intafact and Pabod.

ANAMBRA’S INVESTMENT

In a statement made available to TheCable on Tuesday, Ifeatu Onejeme, Anambra’s commissioner of finance, confirmed that Peter Obi’s administration invested the sum of N1,955,535,247.00 (an equivalent of approximately $12,616,356.43 at the then average CBN exchange rate of N155.00/$1) in Intafact Beverages Limited, a green-field brewery set up in Onitsha by SABMiller Breweries of South Africa in 2012.

Onejeme added that the state government still holds 407,321,264 ordinary shares of International Breweries Plc in exchange for the Intafact Beverages Limited investment.

“Based on the NGX closing price of N5.50 as of 20/6/22, these shares were valued at N2,240,266,952 on that date,” the statement reads in part.

“Based on the Central Bank of Nigeria I&E exchange rate of N415.75/US$1.00 on same June 20, 2022, this investment was valued at an equivalent of approximately US$5,388,495.37 (and at N604/$1.00 parallel market rate, only US$3,709,051.24).”


IB PLC’S SHAREHOLDERS & THEIR CURRENT STAKES


Checks by TheCable showed that International Breweries has two major shareholders with stakes above 5 percent. The highest shareholder is AB INBEV Nigeria Holdings BV with 72.03 percent followed by Brauhaase International Management GMBH with 8.85 percent. These details are contained in the company’s financial report dated March 2022.

AB INBEV NIGERIA HOLDINGS BV – 78.44%
BRAUHAASE INTERNATIONAL MANAGEMENT GMBH – 8.85%
FREE FLOAT – 11.03%.
Further checks showed that these individuals/ special purpose vehicles (a subsidiary company that is formed to undertake a specific business purpose) are part of the company’s minority stakeholders. They include:

Olugbenga Awomolo – 1.24%
Michael Onochie Ajukwu – 0.27%
Igwe Nnaemeka Alfred Achebe – 0.15%
Akintoye Sunday Omole – 0.01%
Peter Nwokike Anugwu – 0.02%

Hisbah21:
Nigerians are just looking for someone because of the hardship this current administration brought us. but Peter Obi has nothing to show,shout,abuse,tag and say anything u like. Peter Obi is not better than the others still a failure as the rest.. continue shouting OBIEDIENT,remember election is not done on social media. The party that doesnot even have a campaign office... mark my word Obi will never be the president in 2023.. wailers 1-2-3

after4:
This one pain you because beer dey involved bah, hypocrite swear sey you no dey pour gulder or beer for inside buta when you wan do alwala

Hisbah21:
Nigerians are just looking for someone because of the hardship this current administration brought us. but Peter Obi has nothing to show,shout,abuse,tag and say anything u like. Peter Obi is not better than the others still a failure as the rest.. continue shouting OBIEDIENT,remember election is not done on social media. The party that doesnot even have a campaign office... mark my word Obi will never be the president in 2023.. wailers 1-2-3

walefresh3:

Hisbah21:



no 1 wailer..next

after4:
Come out make I finish you, hypocrite. How many bottles of beer you don drink today.

Hisbah21:


wail wailer

after4:
I dey wait for you oh, zombie

plaindealer:
..but Obi Pandora laughed all the way to secrete foreign Pandora account with almost double that
amount, $9 millions.


The man is not only a thief, he's a poor and incompetent money manager.


Poor people of Anambra got swindled in broad daylight...


Sad..

EtinosaDLaw:


Stop trying to create imaginary beef between Igbos and Yorubas. Dead this stupid narratives, we shouldn't let rubbish like this dictate our future and who to move us forward. Over the years that we have been making tribalistic decisions, how has it affected us??


TO ALL PETER OBI SUPPORTERS NATIONWIDE:

I say this to you, DO NOT RELENT OR REST ON YOUT OARS. The fact that both PDP and APC have combined to attack you is a sign that you're doing something right. Don't let anyone convince you that a leader should be elected on basis of tribe or turn. Despite that Obi is from a region that has been shortchanged