Blakeney LLP, one of the 3 major shareholders of UAC Nigeria Plc (UACN) has substantially reduced its stakes in the conglomerate with the sale of 80 million additional shares at N5.75 amounting to N460 million.
This was disclosed in a notification that was sent to the Nigerian Stock Exchange (NSE) by UAC Nigeria Plc. The notification was signed by the Company Secretary/Legal Adviser, Godwin Samuel.
This is coming a few days after UAC Nigeria Plc announced a deal to divest 51% of its shares in UACN Property Development Company (UPDC) to Custodian Investment Plc.