date:Apr 26, 2019
Global food and agri-business Olam International has submitted a binding offer to acquire 100% equity ownership of Nigerian flour and pasta manufacturer Dangote Flour Mills (DFM) for NGN130bn ($361m) on a debt free, cash free basis.
The offer includes the acquisition of DFMs five facilities engaged in flour and pasta manufacturing, in addition to its logistics capabilities such as access to Apapa and Calabar ports.
As per the proposed transaction, Olam intends to acquire all outstanding and is