After months of negotiations and proper preparation of documentation, Flour Mills of Nigeria Plc a Nigerian agro-allied group led by Greek investor, John Coumantaros, has announced that it has acquired a 71.69-percent stake in Honeywell Flour Mills, as well as a 5.06-percent stake in the firm for N4.2 ($0.01011) per share.

Following the completion of the transaction, industrialist Obafoluke Otudeko, who is the founder of Honeywell flour mills pocketed a total of N22.24 billion ($53.55 million) from his stake in the deal.

Otudeko owns 66.8 percent of Honeywell Flour Mills, a leading flour and pasta product manufacturer operating under the auspices of Honeywell Group, which has a diverse product portfolio including Honeywell Semolina, Honeywell Noodles, and Honeywell Pasta.
Read More: https://www.newsmakerslive.org/oba-otudeko-sells-honeywell-for-n22bn-to-repay-age-long-loan-to-first-bank/

Okay

Maybe nigerian Elon Musk don buy this one.


Perhaps, the HONEY has not been WELL all these while.

These billionaires use their influence and connection to secure loans from both the govt and banks and sit on these loans while feeding and living off the proceeds

Please support my small business o.

We rise by lifting others.

https://www.nairaland.com/5658194/buy-wholesales-designer-shirt-polo#86208528

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