UAC of Nigeria sells Livestock Feeds stake for N19.5 billion

UAC of Nigeria Plc has announced the sale of its 73.29% shareholding in Livestock Feeds Plc to Sunbeth Treenuts and Sesame Limited for N19.5 billion in an all-cash transaction. The deal, disclosed by Ayomipo Wey, Company Secretary and Group General Counsel, values Livestock Feeds shares at N8.85 each and is pending regulatory approvals.

UAC has controlled Livestock Feeds since 2013 and has significantly scaled the business during its ownership. Fola Aiyesimoju, Group Managing Director of UAC, stated that Sunbeth is well-positioned to support the next growth phase of Livestock Feeds.

Jeroen de Ruijter, Chief Financial Officer of Sunbeth Agro HoldCo, described the acquisition as a strategic move to build an integrated agribusiness platform in Africa. The deal aims to strengthen supply-chain efficiency and market reach by combining Sunbeth’s agricultural sourcing network with Livestock Feeds’ manufacturing operations.

Legal advisers for UAC included Banwo & Ighodalo, while FigPartners Africa and CardinalStone Partners advised Sunbeth.