Nestlé S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has increased its ownership percentage of the Nigerian subsidiary to 66.30 per cent.
With the recent purchase of 229,697 additional units in the shares of the company, and previous purchases from August 20 till date, amounting to 977,744 units, Nestlé S. raised its majority shareholding in the Nigerian subsidiary.
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Nestlé S.A spent about N1.17bn to buy shares of its Nigerian subsidiary in 22 days over three transactions.
The breakdown of the transaction, according to reports, showed that the purchase consideration for the 229,697 additional units of Nestlé Nigeria shares at an average price of N1,249.65 per unit is put at N287m.
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