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Unilever Overseas N42 billion acquisition of additional 16.47% stake in Unilever Nigeria

25/4/2016
Public acquisition
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N 42.87 billion

$ 135.918 million

Announced

25/4/2016

Overview:

  • Unilever Overseas Holdings has made a N42 billion offer to increase its stake in Unilever Nigeria from 58.53% to 75%
  • This was the first time a controlling company had sought to increase its stake using a method other than a scheme of arrangement. 
  • A 75% stake would give Unilever complete voting majority rights. 
  • The target's shareholders rejected the move in April 2016. 

John Crabb - Journalist 

Jurisdiction:

Nigeria

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

Nigeria

Industry sector:

Consumer goods and services

Firms:
ALN Nigeria | Aluko & Oyebode

Party: Unilever (Acquirer)

Udo Udoma & Belo-Osagie

Party: Unilever Nigeria (Target)

Lawyers: Dan Agbor, Yinka Edu

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