Unilever to invest 200 million euros in Nigeria
Uniliever looks to grow its business in the country and continue its long term commitment in African markets.
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. ■