Unilever to invest 200 million euros in NigeriaStaff writer ▼ | April 2, 2015
Unilever Overseas Holdings B.V. has announced its intention to make an offer to increase its equity stake in Unilever Nigeria.
Investing in Africa Unilever up its stake in the Nigeria business to 75%
The proposed move will see Unilever up its equity stake in the Nigeria business from 50.04% up to a maximum of 75%, with the aim to maintain the company’s listing on the Nigerian Stock Exchange as well.
If accepted at the maximum level, the value of the deal could reach €200 million (based on prevailing foreign exchange rates).
Unilever Nigeria has a 91-year history in the country, and is present in the Nigerian market in foods, refreshment, household and personal care products, where its brands include Lux, Lifebuoy, Vaseline and Pears. ■