Flour Mills of Nigeria, Wednesday, seek shareholders’ approval to acquire a controlling stake in Rom Oil Mills.
Flour Mills of Nigeria to Acquire Rom Oil Mills
Nigeria’s biggest flour and pasta maker said in a notice to investors it would seek approval at its annual general meeting on Sept. 12 to buy a 90 percent stake in Rom Oil Mills, based in Ibadan, southwest Nigeria. Flour Mills, whose interests include cement and fertilizer manufacturing and has a 40 percent market share in flour milling, did not disclose how much it was offering for the stake in the vegetable and edible oil refining business.
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Category: Business News in Nigeria