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Nigerian Breweries turns to Heineken to clear heavy foreign exchange overdue

Heineken NV, the parent company of the manufacturer, holds a 56.7 per cent in the entity, making it its majority owner.

Overdue loans and borrowings stood at N348.9 billion, while trade and other payables, dominated by past due obligations to overseas trade partners, climbed to N341.5 billion at the end of June, easing the slide of its net asset position to the negative territory.

“Heineken will take its full rights,” Nigerian Breweries told PREMIUM TIMES on Thursday via email. “Engagement concluded on this,” it added.

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