UACN to Acquire 49% Shares In Tiger Brands
UAC of Nigeria PLC has signed a binding agreement to acquire Tiger Brands Limited’s minority shareholding in UAC Foods Limited.
UAC of Nigeria is a holding company with interests organised around four verticals – animal feeds and other edibles, paints, packaged food and beverages and quick service restaurants.
UAC Foods is a majority owned subsidiary of UACN operating in the packaged food and beverages industry.
A statement from UACN signed by the Company Secretary, Nkemdirim Agboti, said, “Upon completion of the purchase, UAC Foods will continue to operate as a subsidiary of UACN providing nutrition to millions of Nigerians.
“The purchase is expected to be completed in September 2021.”