Unilever Overseas Holdings is tempting Nigerian shareholders with an offer they may not refuse: to sell their shares in Unilever Nigeria at N45.50 per unit.
The consumers good makers want to increase its stake in the local company from 50.1 per cent to a maximum of 75 per cent.
Citigroup Global Markets Ltd and Chapel Hill Advisory Partners Ltd are acting as financial advisers to Unilever Overseas Holdings B.V
The Offer price represents a premium of 33.8 pct to company’s closing share price on March 23 2015
Unilever would acquire up to 942,215,930 shares in company at 45.50 Nigerian naira per share in cash
The Offer which will remain open for acceptance until June 10, has been approved by Securities and Exchange Commission and Nigerian Stock Exchange.
* Total value of transaction at intended offer price is approximately 42.871 billion Nigerian Naira, about 192.6 million euro at prevailing exchange rates.