ModernGhana logo
21.07.2004 Business & Finance

Merger Dispute Rages On As Guinness EGM Takes Off

Listen to article

The dispute surrounding the proposed merger between Guinness Ghana and Ghana Breweries may not be over yet despite a successful extraordinary general meeting (EGM) held on Tuesday.

Shareholders of Guinness Ghana at the EGM approved all resolutions brought before them by the board of the company.

The approval from the shareholders pushes forward the merger deal with Ghana Breweries.

But JoyBusiness Report has gathered that interested parities who are against the merger are still bent on contesting the issue.

They allege that the majority shareholder in Guinness, Diageo is engaged in some under hand dealings, which must be brought to the attention of regulatory bodies such as the Security and Exchange Commission.

Prior to the extraordinary meeting, which was held in the Ashanti regional capital, Kumasi, there was a court injunction sought by a shareholder of Ghana Breweries limited.

But another ruling by an Accra High court on Monday confirmed that the meeting could go ahead.

The External Affairs Director of Guinness Ghana Pamela Djamson-Teteh told Joy business report the EGM was a success.

Mrs. Djamson-Teteh however said resolutions passed at the meeting would not be implemented until the legal matters are put to rest.