Tiger Brands buys 63% Dangote Flour
IOL Business - Oct 5th 2012, 07:46
Nigerian billionaire Aliko Dangote on Thursday sold 63 percent of Dangote Flour to South African consumer goods firm Tiger Brands in a deal worth $188 million, brokers said.
The sale of 3.1 billion shares on the Nigerian Stock Exchange was done at 9.50 naira ($0.06) per share, after regulators' approval last month.
The deal is Tiger Brands' third and its biggest yet in Nigeria, Africa's second-largest economy with 160 million people, which is seen as a growth area for consumer and food products.
The billionaire's holding firm Dangote Industries Limited will retain a 10 percent stake in the flour miller after the
Shares of Dangote Flour were trading flat at 8.59 naira on the local bourse at 15:15 SA time, as brokers said the deal had already been priced in.
Tiger Brands still reeling from listeriosis aftershock
26/11/2019 - 09:41
Tiger Brands continued to feel the effects of the listeriosis outbreak in the year to the end of September after the food producer suffered an impairment charge in its value-added meat products (Vamp), following a slower-than-anticipated recovery in the division.
Processed meats units continue to take toll on Tiger Brands
22/11/2019 - 15:10
Food producer Tiger Brands, which is still reeling from the backlash of the listeriosis crisis, said the slow recovery in its value-added meats businesses ensured operating income fell by a fifth in its year to end-September.
Tiger Brands considers disposing of value-added meat business
11/11/2019 - 09:22
SA’s largest food producer, Tiger Brands, is considering disposing of its value-added meat products business (Vamp), saying on Friday it had determined it was not an ideal fit in the business.
South Africans are spending less on their weekly shopping trip
23/05/2019 - 09:44
Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period.
Tiger Brands reports lower sales in wake of the listeriosis crisis
22/05/2019 - 09:29
Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edged lower because of a slump in processed-meat sales and weak revenues from outside SA.