The Nigerian investment space has been hit by the surprise acquisition of the 86.5 per cent stake in Champions Breweries Plc by EnjoyCorp Limited, a four-month-old company registered in the UK with just one active director.
Raysun Nigeria Limited, the owner of the shares that were acquired by EnjoyCorp is owned by Heineken B.V.
The new majority shareholder, EnjoyCorp, completed the surprise acquisition of Champions Breweries, which has a market capitalization of N28.99bn, according to records on the Nigerian Exchange Limited.
Akwa Ibom State Government has a 10 per cent stake in Champion Breweries, while the public has about 5 per cent stake.
Although the company believes the deal would reposition it for greater profitability, THE WHISTLER found that the new majority shareholder may not have such capacity.
Enjoycorp Limited is an active company incorporated on 7th February 2024, with a registered office located in London.
Checks revealed that the company, with its address at 73 Cornhill, London, EC3V 3QQ, and registration number 15473373, has been in operation for only four months.
According to data from Endole, a website that aggregates several company profiles, “There is currently one active director according to the latest confirmation statement submitted on 7th February 2024.”
The active director is Mr Ehimare Idiahi, who was born in June 1982, according to a filing to UK authorities. He is Eric Idiahi on his LinkedIn page.
Further checks by THE WHISTLER showed that Idiahi, who is the sole director of EnjoyCorp according to filings to UK authorities, was appointed by EnjoyCorp on 7th February 2024.
According to the UK Government website, information.service.gov.uk which was analysed by THE WHISTLER, Idiahi’s total number of appointments is nine including as a director of Emple Group Limited with registration number, 15237588 where he assumed the role on 26th February 2023.
Emple Group has the same registration address as EnjoyCorp. It was registered at 73 Cornhill, London, United Kingdom, EC3V 3QQ.
Apart from Emple Group, EnjoyCorp also has the same address as another company that Idiahi holds the position of director, Tapass Limited.
Tappass appointed him on 5th November 2022, and he resigned from the role on 30th October 2023.
He is also a director of Evercorp Industries Limited, an appointment he assumed on 24th October 2022.
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Evercorp also shares the same address with two other active companies, Goldtruck Holdings Limited which has a registration number: 13859210 and address, 68, Chiltern Street, London, W1U 4EJ and Goldtruck PEGC Limited with registration number 14023367.
According to the UK authorities, Idiahi was the financier of the dissolved Eleva Group Limited registered in London; an investor in Tapass Limited, and a private equity investor in Tangerine Financial Limited. He has resigned as a director of the Tapass and Tangerine Financial.
Idiahi also has a company linked to him, Kanuri MPL Limited, registered at Bourdillon Road 28 Ikoyi, Lagos on 23rd November 2021.
The company registration number is 13759858. He is an active director of the company.
Source: The Whistler
