Tiger Brands has exited Nigeria after selling its minority stake in UAC Foods, becoming the latest SA company to pull out of the West African nation, a potentially lucrative market, which has been criticised as being hostile to foreign capital.

For Tiger Brands, the exit marks the end of the journey that started a decade ago with the acquisition of Deli Foods. Updating the market on Monday, Tiger Brands said it was selling its 49% interest in the food, dairy and beverage company back to its parent, UAC of Nigeria, which holds the 51% balance...

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