Nestlé S.A. has acquired more equity stake valued at about N131,218,541.19 million in Nestle Nigeria as multinationals continued to tighten shareholding control on their Nigerian subsidiaries.
An insider transaction report on the deal indicated that the majority shareholder acquired 111,663 ordinary shares at N1,175.13 per share. The deal increased the Swiss multinational food and drink company’s majority shareholding in Nestle Nigeria.
This was made available to Brand Spur in a statement signed by Bode Ayeku, Company Secretary, and released on the Nigerian Stock Exchange (NSE) on August 26, 2020.
A few weeks ago, the majority shareholder of Nestle Nigeria Plc, Nestle S.A, increased its holding with the purchase of additional 636,384 shares at an average price of N1,174.67 per share on August 20, 2020. This amounts to a total sum of N747,541,193.3.
H1 2020 Financials
The company reported a profit after tax of N 21.8 billion during the first half of 2020 representing a 16.84% decline.
- Gross Revenue declined by -0.62% to N141.02bn from N141.90bn in the previous quarter.
- Profit before tax declined by -16.26% to N33.86bn.
- Profit after tax declined by -16.84% to N21.82bn.
- Net Assets declined by -30.49% from N45.55bn to N31.66bn.
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