https://newsletter.en.creamermedia.com

Tiger Brands disposes of share in UACF

30th August 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

South African packaged goods company Tiger Brands is disposing of its 49% shareholding in UAC Foods (UACF) to its partner UACF Nigeria (UACN), which already holds the remaining 51% of the company.

Following a detailed review, Tiger Brands found that UACF would be “better positioned” under the full ownership of UACN, which culminated in UACN agreeing to acquire Tiger Brands’ shareholding in UACF.

Binding agreements have been concluded to give effect to the transaction, which is expected to be formally closed on September 1.

In the interim, Tiger Brands said that Nigeria still holds “significant potential” for the company and that “options would be explored” after the closing of the transaction to maximise opportunities in relevant categories.

The impact of the transaction on Tiger Brands’ earnings, headline earnings and net asset value a share will not be material, the company said on August 30.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
RioCarb
Rio-Carb

Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.215 0.308s - 170pq - 2rq
Subscribe Now