PZ Cussons to Sell African Subsidiaries, Focus on Growth in Nigeria and Other Markets
PZ Cussons Plc has decided to sell its African subsidiaries to leverage growth potential in Nigeria and other markets. The company aims to strengthen its portfolio in developed and emerging markets like the UK, Australia, New Zealand, and Indonesia.
This move follows an initial strategic review in April 2024, where PZ Cussons sold its 50% equity stake in a non-core edible oil Nigeria joint venture with partner Wilmar International Limited. Meanwhile, Equinor, a Norwegian state-owned multinational, also announced its exit from Nigeria after 31 years of operations, selling its Nigerian assets, including oil fields, to Chappal Energy, a Nigerian indigenous energy company, in a deal worth $1.2 billion.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
PZ Cussons Halts African Subsidiaries Sale Amid Nigerian Economic Improvement
PZ Cussons Nigeria Stock Surges 9.36% as Company Halts Sale of Nigerian Subsidiary
PZ Cusson Nigeria Plc Reports Strongest Half-Year Profit in Five Years
Standard Chartered speeds up Africa exit with Botswana sale
Zichis Agro-allied Concludes Board Meeting for NGX Listing Plans
PZ Cussons Reverses Decision to Exit Nigeria and Other African Markets, Cites Promising Growth Prospects
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
