Dangote sells Nigerian noodle plants to rival for $12 mln

LAGOS, Nov 14 (Reuters) – Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines to rival pasta maker De United Foods Industries for 3.75 billion naira ($12.26 million), the company said on Tuesday.

De United said it has signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It would also buy stock worth 383.94 million naira. ($1 = 305.8000 naira) (Reporting by Chijioke Ohuocha Editing by Greg Mahlich)

Source
Reuters: Nigeria News




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