Page 15 - DMEA Week 42 2021

DMEA NEWS IN BRIEF DMEA

COMPANIES of Nigeria as they have become household board has approved the merger of the unit
names. that operates the Bina oil refinery in Madhya
Turkey to reorganise state Popular brand in the new Top of the Mind Pradesh with itself.
Also, MTN Nigeria trailed as the Most
“The Board of Directors of the company
firms ahead of listings, (TOM) survey conducted among corporate (BPCL) at its meeting held on October 21,
executives in the country.
2021, has considered and approved the
sales were deployed, and they include brand Scheme of Amalgamation of Bharat Oman
In rating the brands, seven metrics
Refineries Ltd with the company,” the firm
Turkey is reportedly preparing to reorganise popularity; quality element; market said in a stock exchange filing.
some of its largest state companies ahead of leadership; innovation; national spread; BORL is currently a wholly-owned
possible stake sales or public offerings, with a CSR-environmental friendliness and online subsidiary of BPCL. It operates a 7.8 million
focus on energy companies including state gas engagements. tonnes a year capacity oil refinery at Bina in
importer and pipeline operator Botas. Of the seven metrics, according to the Madhya Pradesh.
People with knowledge of the plan report, Dangote brand came tops in five, The merger follows BPCL recently buying
divulged the scenario, Bloomberg reported on beating MTN to a distant second. The ratings out partner Oman Oil in BORL.
October 20. were made public, over the weekend, at the BPCL operates a 12 million tonnes
The government is said to want to split annual top corporate brand evaluation report capacity oil refinery at Mumbai and another
Botas into three entities and organise trading by Top 50 Brands Nigeria. 15.5 million tonnes capacity unit at Kochi in
and pipelines as separate businesses, in line The annual top brands league table Kerala.
with legislation aimed at liberalising the which has become like a report card with The merger will provide “cost optimisation
gas market. Botas’s natural gas trade, gas which top corporate brands have a feel of in the purchase of crude oil for the refineries,”
infrastructure and crude pipeline operations their ranking in the market is done with a BPCL said, adding it would also provide
would be established as separate corporations. special purpose model, the Brand Strength optimisation in production planning/product
The government has previously slated state Measurement (BSM Index), a model that tests mix for the refineries.
electricity transmission company Teias for a brand’s ability to deliver on its promise to More efficient space management,
an initial public offering (IPO) by the end of its consumers from the consumers’ points integrated asset management and de-
2022, while it’s been selling assets from state of view. It is a qualitative, non-financial duplication of processes wherever possible
power producer Euas’ portfolio for decades. evaluation of top corporate brands in the across refineries will be another benefit.
No major Turkish state company has country, which is done annually. Also, the combined inventory management
offered a stake for sale in recent years. The Brand Consulting firm’s CEO, Taiwo and availing of easier financial support for
Turkey’s privatisation revenue fell to a Oluboyede said, without any doubt, the business will be possible, BPCL said.
33-year-low of $22mn in 2020 versus a peak subject of brand and branding has become “No consideration in form of cash or shares
of $12.5bn in 2013, according to Privatization central in every corporate setting. And is proposed to be issued as consideration for
Administration data cited by Bloomberg. regardless of the sounds of the time, the brand amalgamation of BORL with BPCL,” the filing
BNE drives and determines corporate placement, said.
particularly at an unprecedented time like When the amalgamation becomes effective,
Dangote becomes Nigeria’s this. all the employees of the BORL shall become
employees of BPCL on terms and conditions
LEADERSHIP
most valuable brand not less favourable than those on which they
are presently engaged with.
For the fourth time in a row, Dangote Group Bharat Petroleum to merge “On the Scheme becoming effective,
has emerged as the most valuable brand in with subsidiary (BORL) shall stand dissolved without winding
Nigeria for the year 2021. up and the board and any committees thereof
The Dangote Group products need no Privatisation-bound Bharat Petroleum shall without any further act, instrument or
introduction across the length and breadth Corporation Ltd (BPCL) on Friday said its deed be and stand discharged,” it said, adding

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