Unilever Nigeria dumps tea business

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By Kayode Tokede

Unilever Nigeria plc has announced plans to separate its tea business into a separate legal entity.

The General Counsel WA & Company Secretary, Unilever Nigeria , Mrs. Abidemi Ademola in a statement on the Nigerian Stock Exchange (NSE) on Thursday said, “Further to the announcement made on 5th August, 2020 about Unilever’s global announcement on the strategic review and planned separation of its Tea business, this is to notify The NSE and our esteemed shareholders of the plan to separate the Unilever Nigeria Plc tea business into a separate legal entity.

“The planned separation will go through the normal approval process and is expected to be concluded by the end of 2021.

“We shall keep the NSE and stakeholders informed of subsequent developments on this matter.

“The disclosure is made for and on behalf of the Board of Unilever Nigeria Plc.”