SEC Approves of offer from British American Tobacco Investments B.V
Offer to Minority shareholders of British American Tobacco Ghana Limited
On the 5th October 2006 a press release was issued by British American Tobacco Investments B.V (BATI) majority shareholders of British American Tobacco Ghana (BAT Ghana) through the GSE announcing its intention to consolidate its ownership of BAT Ghana through a general offer to buy shares of minority shareholders.
BAT Ghana Board approved of the offer on the 2nd of October 2006 being
satisfied with the fairness and reasonableness of the offer and recommended
same to shareholders.
BATI has obtained all the necessary regulatory and statutory approvals
that are necessary for the transaction.
BATI is to purchase 30.6 million shares representing 44.34% of BAT Ghana
shareholding.
On the 10th January 2007, the SEC approved the Circular to be sent to
all shareholders of BAT Ghana. Merban Stockbrokers Ltd., a wholly subsidiary
of Merchant Bank Ghana Ltd and a Licensed Dealing Member of the GSE is
the Financial Advisors/Dealer Manager for the Transaction.