Unilever opens offer to increase stake in Unilever Nigeria




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Unilever Nv

* Opening of offer to increase its equity stake in Unilever Nigeria Plc from 50.10 pct up to a maximum of 75 pct

* Offer provides who wish to sell some or all of their in Unilever Nigeria opportunity to do so

* Citigroup Global Markets Ltd and Chapel Hill Advisory Partners Ltd are acting as financial advisers to Unilever Overseas Holdings B.V

* Offer represents a premium of 33.8 pct to company’s closing share price on March 23 2015

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* Unilever would acquire up to 942,215,930 shares in company at 45.50 Nigerian naira per share in cash

* Offer will remain open for acceptance until June 10, 2015

* Offer has been approved by securities and exchange commission and nigerian stock exchange has been notified of offer

* Total value of transaction at intended offer price is approximately 42.871 billion Nigerian Naira (192.6 million euro at prevailing exchange rates) Further company coverage:

 

*(Reuters)*