Nestle SA Invests N90bn in its Nigerian Arm.

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Nestle South Africa, a food and beverage corporation, has purchased N90.29 billion worth of Nestlé Nigeria Plc shares.

The transaction took place in two tranches on the floor of the Nigerian Exchange Limited in Lagos, according to a corporate notice on insider trading published and signed by its company secretary, Bode Ayeku. Nestle Nigeria sold 40,000 ordinary shares in one transaction for N48.68 billion, or N1092 per share.

37, 967 shares in the second tranche were sold for N1,096. It cost N41.61 million. These shares are valued a total of N90.29 billion.

The additional interests would strengthen Nestlé S.A.’s position as the primary stakeholder in its Nigerian subsidiary.

Punch

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