South African food company Tiger Brands,which acquired 63.3%stake in Dangote Flour Mills,is planning to buy off the other minority shareholders in the company.
In September 2012,Dangote Industries completed the sale of its 63.3%in Dangote Flour Mills to Tiger Brands,and it currently holds only 10%.The remaining 26.7%stake is held by diversified minority Nigerian shareholders.
Tiger Brands may make a tender offer to shareholders to acquire the 26.7%stake,reported thisdaylive.com.
Dangote Flour Mills is a leading Nigerian manufacturer of pasta and flour.It has a milling capacity of nearly 5,000 tons per day and offers confectionery flour,wheat flour,bread flour,pasta semolina,spaghetti and macaroni under the Dangote brand.
Tiger Brands,which produces bread,breakfast cereal and energy drinks,has been actively seeking to expand in Nigeria.
