The Board of Dangote Flour Mills Plc made this known to the Nigerian Stock Exchange (NSE), its shareholders and the investing public on Tuesday. Mr. Thabo Mabe, director at Dangote Flours, in the statement, said Olam International has shown interest to acquire all the outstanding and issued shares of the flour mills company that are not currently owned by Olam through its subsidiary, Crown Flour Mills Limited.
According to the statement, as at the date, Olam International through its subsidiary, holds 5,113, 229 shares in the issued share capital of Dangote Flour Mills. It further disclosed that the “transaction will be executed through a Scheme of Arrangement, under Section 539 of the Companies & Allied Matters Act Chapter C20 Laws of the Federation of Nigeria 2004”. Other applicable laws, rules/regulations will also be considered.