DEADLINE: 7THFEBRUARY, 2023
TARABA STATE GOVERNMENT
INVITATION FOR EXPRESSION OF INTEREST FOR THE ACQUISITION OF A SHAREHOLDING INTEREST IN MAMBILA BEVERAGES NIGERIA LIMITED

(1) The Taraba Investment and Properties Limited, hereby invite Bids for the Privatization of Mambila Beverages Nigeria Limited (“Transaction”).

(2) In 2012, Nigerian Beverages Production Company Limited was auctioned as a result of financial problems with her creditors. The same year, Taraba State Government bought the assets of the Company and registered it as Mambila Beverages Nigeria Limited, to manage the tea estate.

(3) Interested investors are hereby invited to express interest in acquiring the Company.

(4) Intending bidders should have:

(a) Operated in the Agribusiness Sector in Nigeria for a Minimum of Ten (10) Years,

(b) Have Audited Accounts showing a minimum Net Asset Value of Five Billion Naira (N5,000,000,000),

(5) Preference will be given to indigenous Nigerian companies.

(6) Method of Application: Interested investors (individual entities or consortia) should indicate their interest by submitting an Expression of Interest (“EOI”) with the following documentation and information, as applicable, under the subject headings specified below (in the case of a consortium, please provide the relevant information for each consortium member):

  • Description of acquiring entity or vehicle with evidence of registration or incorporation;
  • List of Directors of the acquiring entity or vehicle, identifying all shareholders with a 30% or more stake;
  • Strategic rationale for the acquisition of Mambila Beverages;
  • In the case of a consortium, kindly provide evidence of alliance/partnership/joint venture between members in the consortium, clearly indicating the lead member authorized to submit the EOI;
  • Full name(s) of contact person(s), email addresses and telephone numbers; and
  • Any relevant information that demonstrates credibility and eligibility of the investor for the Transaction.

(7) Submission of Expression of Interest: Prospective investors are required to submit their EOIs in English Language and titled “Expression of Interest for the Acquisition of Mambila Beverages”. The EOI should be received no later than 5.00pm (Nigerian time) on 7 February, 2023:

THE SECRETARY TO THE TARABA STATE GOVERNMENT
c/o The Managing Director/CEO
The Taraba Investment and Properties Limited
134 Hammaruwa Way, PMB 1071, Jalingo, Taraba State.

(8) Upon receipt and evaluation of the EOIs, a shortlist of interested investors deemed to be fit and suitable, will be prepared and these parties will be invited to proceed to the next phase of the Transaction. Please note that only shortlisted interested investors will be formally contacted and advised on the next steps of the Transaction.

(9) Legal Notices: This invitation does not constitute an invitation to tender or an offer to sell or a solicitation of an offer to subscribe for or purchase any securities by any person.

(10) The distribution of this invitation in certain jurisdictions may be restricted by law, and recipients should inform themselves about, and observe any applicable legal or regulatory requirements in relation to, the distribution or possession of this invitation.

(11) By submitting an EOI, an interested investor confirms that it is a person able to receive the information provided to it (or which may be provided to it in any subsequent phase) without contravention of any unfulfilled registration requirements or other applicable legal or regulatory restrictions in the jurisdictions in which it is incorporated, resides, or conducts business.

(12) The right is reserved by the Taraba Investment & Properties Limited to accept or reject any submission, and to amend or discontinue the Transaction at any time, without any obligation to provide reasons for its decision.

SIGNED:
CHAIRMAN,
TECHNICAL COMMITTEE FOR THE PRIVATIZATION OF MAMBILA BEVERAGES NIGERIA LIMITED

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