The acquisition more shares add substantially to its investment in the Nigeria subsidiary.
Nestle S.A, the majority shareholder of Nestle Nigeria Plc, has increased its stake at its Nigerian subsidiary with the purchase of 229,697 additional shares on November 09, 2020.
In a disclosure statement released through the Nigerian Stock Exchange, the company said Nestle S.A bought ordinary shares of Nestle Nigeria Plc, 229,697 at N1,249.65 per share.
Nestle Nigeria Plc is a publicly listed food and beverage speciality company headquartered in Lagos. It is majority-owned by Nestle S.A. of Switzerland. The company was founded in 1961 and conducted trading under the name of Nestle Products Nigeria Limited.
It has its main factory in Agbara Industrial Estate, Ogun State. The firm manufactures breakfast cereal, baby food products, food seasoning and hydrolyzed plant protein mix.
The firm was listed as one of the largest 100 companies in Africa by Africa Business magazine.