Unilever opens offer to increase stake in Unilever Nigeria: Opening of offer to increase its equity stake in Unilever Nigeria Plc from 50.10 pct up to a maximum of 75 pct. Offer provides shareholders who wish to sell some or all of their shares in Unilever Nigeria opportunity to do so. Citigroup Global Markets Ltd and Chapel Hill Advisory Partners Ltd are acting as financial advisers to Unilever Overseas Holdings B.V.
Offer price represents a premium of 33.8 pct to company’s closing share price on March 23 2015. Unilever would acquire up to 942,215,930 shares in company at N45.50 per share in cash. Offer will remain open for acceptance until June 10, 2015, and has also been approved by Securities and Exchange Commission (SEC). Total value of transaction at intended offer price is approximately 42.871 billion Nigerian Naira (192.6 million euro at prevailing exchange rates).
