Johannesburg / ZA. (tbl) Shareholders are advised that Tiger Brands Limited and Dangote Flour Mills PLC (DFM) have reached an in principle agreement regarding the terms of a potential transaction that would, if implemented, result in Tiger Brands acquiring 63,35 percent of the total ordinary issued share capital of DFM from Dangote Group (the Potential Transaction). Tiger Brands Limited is South Africa´s largest food and branded consumer-goods company. DFM is a public company headquartered in Lagos (NG), market leader in the Nigerian flour and pasta markets and listed on the Nigerian Stock Exchange.
The proposed terms of the Potential Transaction are encapsulated in a share sale and purchase agreement (SSPA). Before the Parties are able to sign the SSPA, the Potential Transaction and its terms have to be considered and approved by the SEC, in accordance with the regulatory requirements in Nigeria. Shareholders are hereby advised that the Parties have submitted the Potential Transaction and its terms to the SEC for approval.
Should the SEC approve the Proposed Transaction and its terms, the Parties intend to sign the SSPA. Upon signature by the parties of the SSPA, Tiger Brands will release a full announcement regarding the terms of the Potential Transaction. Implementation of the Potential Transaction will be subject to the fulfilment of certain conditions precedent, including approval of the Exchange Control Division of the South African Reserve Bank.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Kellanova Company: Reports Strong Q3-2024 Results
- Starbucks: Reports Q4 and Full Year Fiscal 2024 Results
- Luckin Coffee: Announces Q3-2024 Financial Results
- Bunge Global SA: Reports Third Quarter 2024 Results
- Cheesecake Factory: Reports Q3-2024 Financial Results
- Sysco: Reports Q1-2025 Financial Results
- Mondelez International: Reports Q3 2024 Results
- Brinker International: Reports Q1 Of Fiscal 2025 Results
- Grupo Bimbo: Reports Third Quarter 2024 Results
- Paulig Group: strengthens position in World Foods
- Corbion: Q3-2024 Interim Management Statement
- Gruma: reports third quarter 2024 results
- AAK: announces Interim report for Q3-2024
- Darling Ingredients: Reports Q3-2024 Financial Results
- AAK: divests its North American Foodservice site
- Valora strengthens global leadership in pretzel market
- Coca-Cola Company: Reports Q3-2024 Financial Results
- Starbucks: reports preliminary results, suspends guidance
- Aryzta AG: announces 9M-2024 Interim Report
- JAB Acquires Mondelez’s Stake in JDE Peet’s