Flour Mills of Nigeria Plc has notified the Nigerian Exchange and its stakeholders that the Company has received an offer from the majority shareholder, Excelsior Shipping Company Limited to acquire all the shares held by the minority shareholders in Flour Mills.
The Transaction will be implemented by way of a Scheme of Arrangement between the Company and the Company’s shareholders.
The Company has received ‘No Objection’ to the scheme by the Securities and Exchange Commission (SEC)