By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Soap maker, PZ Cussons Nigeria Plc said on Thursday its plan to restructure its operations which would involve the business combination of two of its wholly owned subsidiaries – PZ Power and PZ Tower with the parent company – PZ Cussons Nigeria Plc.

The company in a notice to the Nigerian Stock exchange (NSE) said the business combination would be effected via a Scheme of Arrangement.

According to PZ Cussons Nigeria, the restructuring is being carried out with a view to simplifying the company’s corporate structure and operations reducing administrative costs and improving operational efficiency.

The company states that the proposed merger will be subject to the receipt of the appropriate approvals from the Securities and Exchange Commission (SEC) and the Federal High Court.