By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-World soap and detergent makers, Unilever Overseas Holdings B.V. has opened its offer to increase its equity stake in Unilever Nigeria Plc from 50.10 percent up to a maximum of 75 percent, according to as Reuters brief.
According to the brief, the offer provides shareholders who wish to sell some or all of their shares in Unilever Nigeria opportunity to do so.
It said Citigroup Global Markets Ltd and Chapel Hill Advisory Partners Ltd are acting as financial advisers to Unilever Overseas Holdings B.V
Also, offer price represents a premium of 33.8 percent to company’s closing share price on March 23 2015
The brief says that Unilever would acquire up to 942,215,930 shares in company at N45.50 Nigerian per share in cash and offer will remain open for acceptance until June 10, 2015.
In the same vein, Unilever B.V disclosed that the offer has been approved by the Nigerian regulatory authorities, the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) has been notified of offer.
Unilever B.V had on April 9, 2015 announced its intention to make an offer to increase its equity stake in the company from 50.04 percent up to a maximum of 75 percent (the “Proposal”) and to maintain the Nigeria’s unit listing status on the NSE.
Shares of Unilever Nigeria climbed up 0.09 percent at the close of today’s session on the Nigerian bourse as it opened N43.00 and closed at N43.04; gaining 0.04 kobo per share.
