If shareholders give their blessings, Nigerian Breweries Plc would likely merge with Consolidated Breweries Plc come December 4, 2014. According to a notice by the company, it hopes to exchange four of its shares for five shares of Consolidated Breweries Plc. The shareholders of the company would be asked to consent to an order of a court sanctioning the merger to allow the actualization of the deal. The company intends to merge both businesses to take advantage of Nigeria’s growing market for beer and malt drinks.

Nigerian Breweries recently won the Securities and Exchange Commission’s approval for the merger. Nigerian Breweries, listed on the Nigerian Stock Exchange, is expected to be the surviving entity after the merger. The company said that both companies would continue to operate as usual until regulatory and other approvals were obtained. “The proposed merger of both companies is expected to create value for all key stakeholders, particularly shareholders and drive benefits from increased economies of scale, enhance operating and administrative efficiencies,” it stated.