Emerald HoldCo Launches N6.94bn Mandatory Takeover Offer for Beta Glass Minority Shares

Emerald HoldCo B.V. has launched a mandatory takeover offer valued at N6.94 billion to acquire up to 11,741,509 ordinary shares of Beta Glass Plc from minority shareholders at N590.94 per share, following its indirect acquisition of a controlling stake in the company earlier this year.

The offer comes after Emerald HoldCo completed the acquisition of 100 per cent of Emerald Nigeria Intermediate Holdings B.V. (formerly Frigoinvest Nigeria Holding B.V.) in February 2026.

Through the transaction, the company acquired indirect ownership of 331.26 million ordinary shares in Beta Glass, representing 55.22 per cent of the company’s issued share capital.

The controlling stake is held through Packaging Industries Nigeria Limited (formerly Frigoglass Industries (Nigeria) Limited), in which Emerald Nigeria Intermediate Holdings B.V. owns a 76.03 per cent interest.

Under the Investments and Securities Act (ISA) 2025 and the Securities and Exchange Commission (SEC) Rules on Mergers, Takeovers and Acquisitions, any investor that acquires control of a listed company is required to make a mandatory takeover offer to eligible minority shareholders.

In compliance with the regulations, Emerald HoldCo is offering to acquire up to 11,741,509 ordinary shares, representing 1.96 per cent of Beta Glass’ issued and fully paid share capital, excluding the shares already held through its existing ownership structure.

The offer received Board approval on February 5, 2026, and has also been cleared by the Securities and Exchange Commission.

Shareholders whose names appeared on Beta Glass’ register as of June 25, 2026, are eligible to participate in the offer