“This acquisition enables FMN to extend its reach across Nigeria, provide enhanced manufacturing capacity and create synergies to deliver improved products to consumers. At a total enterprise value of N80 billion, Honeywell Group disposed a 71.69 per cent stake in HFMP to FMN.
Given FMN’s parallel negotiation for both stakes, culminating in the agreements being executed, the transaction was concluded at N4.20 being the final equity price per share.” Group Managing Director, FMN, Mr. Boye Olusanya, stated, “We are delighted that approvals have been received and we are all set to begin execution of this landmark transaction that would positively impact Nigeria’s food security architecture and overall competitiveness. We commend and thank all regulatory and approving bodies – FCCPC, SEC and NGX, for supporting this historic vision.both Nigeria and Africa.
Wow !!! did not see that coming.
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