Flour Mills set to buy additional 79.3 million Honeywell shares
Flour Mills of Nigeria Plc says it has obtained the approval of the Securities & Exchange Commission to launch a
Flour Mills of Nigeria Plc says it has obtained the approval of the Securities & Exchange Commission to launch a mandatory takeover bid to the shareholders of Honeywell Flour Mills Plc for 79,301,976 ordinary shares of 50kobo each in Honeywell Flour Mills.
The shares represent 1 percent of the issued shares of Honeywell Flour Mills, the company said in a statement.
“The mandatory takeover bid is being offered by Ecowise Horizon Investment Limited and Greywise Investment Solutions Limited on behalf of FMN,” it said.
Ecowise and Greywise hold an aggregate of 6,086,381,574 ordinary shares, 76.75 percent of Honeywell Flour Mills Plc’s shareholding in Honeywell, according to the statement.
