September 28, 2022
Events Lifestyle Uncategorized

Flour Mills of Nigeria to buy 76.8% of rival Honeywell – Reuters

  • December 2, 2021
  • 2 min read
Flour Mills of Nigeria to buy 76.8% of rival Honeywell – Reuters

ABUJA, Nov 22 (Reuters) – Flour Mills of Nigeria plans to acquire a 71.69% stake in rival Honeywell Flour Mills at an enterprise value of 80 billion naira ($193.7 million), the companies said on Monday.
A further 5.06% stake in Honeywell Flour Mills will be bought from FBN Holdings, Flour Mills of Nigeria said in a separate statement.
Honeywell will retain its listing on the Nigerian stock exchange after the deal, the companies said.
($1 = 413.0000 naira)
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