Nestle Nigeria’s parent body mops up 229,697 shares at N287m

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By Kayode Tokede

Nestle S.A., the parent company of Nestle Nigeria Plc has bought additional 229,697 shares of the Nigeria’s unit at N1,249.65 per share which amounted to N287,040,856.05.

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest food company in the world, measured by revenues and other metrics, since 2014.

In a notification to the Nigerian Stock Exchange (NSE) signed by Bode Ayeku, Company Secretary, the transaction took place on 11th September 2020

Nestlé Nigeria PLC is one of the largest food and beverage companies in Africa. For over 57 years, Nestlé has been delighting consumers in Nigeria with high quality nutritious food products.

With a staff strength of over 2,300 direct employees, 3 manufacturing sites, 8 branch offices and a head office located in Lagos, the company produces and markets several iconic brands including Maggi, Milo, Golden Morn, Nescafé and Nestlé Pure Life.