Flour Mills of Nigeria to acquire 71.69% stake in Honeywell Flour Mills for NGN 80B

Flour Mills of Nigeria Plc signed an agreement to acquire a 71.69% stake in Honeywell Flour Mills Plc from Honeywell Group Limited at an enterprise value of NGN 80 billion. The transaction is subject to regulatory approval.

“The proposed transaction will combine two businesses with shared goals and create a more resilient national champion in the Nigerian foods industry, ensuring long-term job creation and preservation.”honeywellgroup.com

• 1 source
• honeywellgroup.comHoneywell Group and Flour Mills of Nigeria Sign Agreement to Combine Flour Mills of Nigeria with Honeywell Flour MillsNov 22, 2021

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