Insights into Tiger Brands Acquisition of Dangote Flour
Last Thursday, Tiger Brands announced to the Nigeria Stock Exchange (NSE) that it had reached an agreement in principle to acquire 63% of Dangote Flour.
Businessnews.com.ng has insight into the details of the deal which should soon receive SEC approval.
Tiger brands in the leading food company in South Africa and Nigeria forms the most important part of its strategic, “growth ambition”, according to CEO of Tiger Brands Nigeria, Thabi Segoale.
As part of the deal Tiger Brands acquires the Dangote Pasta, dangote Noodles, and Dangote Agrosacks business.
425 trucks are also to be acquired by Tiger Brands as part of the terms of the deal.
Tiger Brands also intends to offer minority shareholders in Dangote Flour a deal in order to increase their stake in the company. However Tiger brands says it will keep Dangote Flour listed on the Nigerian Stock Exchange.
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