• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate deals

DEAL: CAP Plc completes merger with Portland Paints

Omokolade Ajayi by Omokolade Ajayi
February 19, 2021
in Corporate deals
CAP Plc is running at a risk of increased bad debts
Share on FacebookShare on TwitterShare on Linkedin

Chemical Allied Products Plc (CAP) has been authorised to receive all the assets, liabilities, product offerings, and property rights of Portland Paints and Products Nigeria Plc.

This was one of the resolutions passed at the court-ordered meeting of the Shareholders of CAP Plc which held on Thursday, February 18, 2021, at Radisson Blu Hotel in Lagos

According to the statement which contains the resolutions made at the court-ordered meeting issued by the Company Secretary, Ayomipo Wey, which was seen by Nairametrics, “Chemical Allied Products Plc “is hereby authorised to enter into a merger, and business consolidation with Portland Paints such that, upon an order of the Court, all assets, liabilities of Portland Paints including but not limited to real property, intellectual property rights, permits, credits, allowances, equipment and machinery, plant, fixtures and fittings, motor vehicles and businesses as at the Effective Date shall be transferred to the Company without further act or deed by the parties”.

RelatedStories

Chemical and Allied Products Plc reports N3.1 billion pre-tax profit for FY 2022

CAP Plc reports N3.1 billion pre-tax profit for FY 2022

January 27, 2023
CAP Plc

Federal High Court approves merger between CAP Plc and Portland Paints

July 1, 2021

READ: CAP Plc’s share price is beginning to tank

Resolutions made at the court-ordered meeting

  • In view of the merger with Portland Paints, and to give effect to the full completion of the Scheme Merger, CAP Plc is hereby authorized to pay Cash Consideration of N2.90 to the Scheme Shareholders for each ordinary share of N0.50 held in Portland Paints as at close of business on the Terminal Date.
  • Upon the Scheme becoming effective, the CAP Plc is hereby authorized to allot up to 99,176,942 shares to Shareholders of Portland Paints Plc who elect to receive the Share Consideration, as the shareholders hereby waive their pre-emptive rights to any such shares.

READ: CAP Plc Managing Director resigns

What you should know

  • According to a statement made by the Managing Director of CAP Plc, David Wright, the post-merger entity of Chemical Allied Products Plc and Portland Paints and Products Nigeria Plc would be the largest player in the Nigerian paints market by market share.
  • The “Enlarged CAP” as it’s fondly called is expected to dominate the Nigerian Market as the largest player in the paints and decorative industry, as the entity is expected to float an enlarged product portfolio with strong brands, and a rich product mix of CAP and Portland Paints in the standard, premium, industrial and marine/protective segments.
  • Hence, with a formidable product portfolio, the entity will leverage the strength of powerful brands like Dulux, Sandtex, Caplux and Hempel, as the “Enlarged CAP” will command a diversified product range across the decorative and marine segments.
  • Upon the completion of the merger, the “Enlarged CAP” is expected to have an estimated market share of 14.9%, with a product portfolio which cuts across the Decorative, Industrial, Marine and Protective segments, with 26 product offerings in total.
  • These product offerings will be distributed across 91 stores across 32 states in the country, as the enlarged entity will leverage the benefits of a wider distribution network.

Follow us for Breaking News and Market Intelligence.
Tags: Chemical Allied Products Plc (CAP)David WrightPortland PaintsProducts Nigeria Plc.
Omokolade Ajayi

Omokolade Ajayi

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor.

Related Posts

Chemical and Allied Products Plc reports N3.1 billion pre-tax profit for FY 2022
Company Results

CAP Plc reports N3.1 billion pre-tax profit for FY 2022

January 27, 2023
CAP Plc
Business News

Federal High Court approves merger between CAP Plc and Portland Paints

July 1, 2021
CAP Plc is running at a risk of increased bad debts
Manufacturing

‘Enlarged CAP’ will be the largest in Nigeria’s paint industry – MD, CAP Plc

February 10, 2021
CAP Plc
Corporate deals

CAP Plc set to merge with Portland Paints and Products Plc.

October 27, 2020
CAP Plc's new board on courtesy visit at the NSE
Corporate Updates

CAP Plc’s new board on courtesy visit at the NSE

November 8, 2019
Next Post
Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

United Capital earmarks total dividend of N4.2 billion for shareholders

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 
  • Global oil price may surge past $150 per barrel as Iran’s parliament approves closure of Strait of Hormuz 
  • President Trump’s visa restrictions threaten 16 U.S. colleges depedent on international students 

Follow us on social media:

Recent News

Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 

Tinubu seeks swift action on ECOWAS Standby Force as insecurity escalates in West Africa 

June 22, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

Global oil price may surge past $150 per barrel as Iran’s parliament approves closure of Strait of Hormuz 

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics