Unilever Seeks To Increase Stake In Nigerian Unit

Unilever Overseas Holdings B.V. said it plans to offer to increase its equity stake in Unilever Nigeria PLC from 50.04 percent to 75 percent, the maximum allowed under the country's foreign investment rules. Also, the company intends to maintain the company's listing on the Nigerian Stock Exchange. Under the terms of the proposal, Unilever would purchase up to 944,465,532 shares in the Nigerian unit at an offer price of NGN 45.50 per share, a 33.8 premium to the March 23, 2015, closing price.