By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Unilever Overseas Holdings B.V., a subsidiary of Unilever Plc said on Wednesday its  Tender Offer to up its stake in Unilever Nigeria Plc will close June 10.

The soap and detergent maker is seeking to purchase up of 942,215,930 shares in Unilever Nigeria at the price of N45.50 per share (in cash), aimed at increasing its shareholding in Unilever Nigeria from 50.1 percent to 75.0 percent.

“The Offer will close on June 10, 2015, and settlement of consideration will occur upon receipt of SEC and NSE approvals – this is estimated to be in August, 2015,” the company said in an issuer’s announcement with the NSE.  

At the close of business on the Nigerian bourse on Wednesday share price of Unilever Nigeria declined 1.10 percent to N45.00 from N45.50 traded the previous session losing 0.50 kobo per share.