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Home Companies Company News

WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake

Nairametrics by Nairametrics
June 16, 2015
in Company News
WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake
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FrieslandCampina has increased its equity stake in its subsidiary WAMCO Nigeria PLC (“FrieslandCampina WAMCO”) from 54.58 percent to 67.61 percent in a deal that values the Nigerian milk maker at $1.54 billion.

FrieslandCampina acquired 13.03 percent of the shares for a total consideration of approximately 180 million euros.

CEO of Royal FrieslandCampina Roelof Joosten said: “The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are the reasons why FrieslandCampina will continue to invest in its subsidiary FrieslandCampina WAMCO.”

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FrieslandCampina WAMCO has been a key player in Nigeria since 1954. The Nigerian Peak brand is one of the key brands in FrieslandCampina’s portfolio.

FrieslandCampinaWAMCO Nigeria produces, packages, markets and distributes a large variety of dairy products and is a major force in fast-moving consumer goods in Nigeria.

Besides Peak, its leading brands are Three Crowns and Friso. Under the terms of the transaction which was executed on the NASD OTC trading platform, FrieslandCampina acquired 127,184,030 ordinary shares in FrieslandCampina WAMCO at NGN315.67 per share.

 

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Comments 6

  1. otimkpu1 says:
    June 16, 2015 at 4:36 pm

    WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake https://t.co/SMuxtRyC0f https://t.co/qUrkQdfDT1

    Reply
  2. Nairametrics says:
    June 16, 2015 at 4:36 pm

    WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake https://t.co/Ft8s3v19l0 https://t.co/5atS2ctZzx

    Reply
  3. ugodre says:
    June 16, 2015 at 4:36 pm

    WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake https://t.co/R8XOtuiK2a https://t.co/7JRsbKH0gq

    Reply
  4. mrchukwumaz says:
    June 16, 2015 at 4:43 pm

    RT @Nairametrics: WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake https://t.co/Ft8s3v19l0 https://t.co/5atS2c…

    Reply
  5. Naijawhatsup says:
    June 16, 2015 at 4:48 pm

    WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake https://t.co/eiGVkzK7vB

    Reply
  6. CSLStockbroking says:
    June 17, 2015 at 5:50 pm

    WAMCO’s value jumps to $1.54 billion as FrieslandCampina increases equity stake: https://t.co/T7cLhcBvWN

    Reply

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