Flour Mills of Nigeria to buy 76.8% of rival Honeywell

  • 11/22/2021
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ABUJA, Nov 22 (Reuters) - Flour Mills of Nigeria plans to acquire a 71.69% stake in rival Honeywell Flour Mills at an enterprise value of 80 billion naira ($193.7 million), the companies said on Monday. A further 5.06% stake in Honeywell Flour Mills will be bought from FBN Holdings, Flour Mills of Nigeria said in a separate statement. Honeywell will retain its listing on the Nigerian stock exchange after the deal, the companies said. ($1 = 413.0000 naira) Reporting by Fikayo Owoeye and Chijioke Ohuocha Editing by Louise Heavens and David Goodman

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