Nestlé S.A invests additional N175.2 in shares in Nigerian subsidiary

By Kayode Tokede

Nestlé S.A, a leading multinational food and beverage company, has invested an additional N175.2 million in shares of its Nigerian Subsidiary (Nestlé Nigeria Plc).

This disclosure was made by Nestlé Nigeria Plc, in a notification issued and signed by the company’s secretary, Bode Ayeku.

According to the notice, Nestlé S.A acquired additional 125,513 units of Nestle Nigeria Plc shares at a price of N1, 396 per share. This puts the total consideration for the shares purchased by the parent company at N175, 216,148.

Additionally, it is worthy to note that the recent transaction which took place on the floor of the Nigerian Exchange Limited, was effected in three tranches on the following dates; 4th, 5th and 6th of August, 2021.