Nestlé S.A invests N202.2m in shares of Nigerian subsidiary

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By Kayode Tokede

Nestlé S.A, a leading multinational food and beverage company, has invested an additional N202.2 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 144,447 units of Nestle Nigeria Plc shares at a price of N1, 399.99 per share. This puts the total consideration for the shares purchased by the parent company at N202, 224,355.53

Meanwhile, it is worthy to note that the recent transaction took place on the floor of the Nigerian Exchange Limited on the 18th of June, 2021.

By implication, the recent transaction will further raise the stakes and cement the position of Nestlé S.A as the majority shareholder in its Nigerian subsidiary (Nestlé Nigeria Plc).

The share price of Nestle Nigeria traded flat at N1400 on Wednesday.