Tiger Brands sells minority interest in UAC Foods Nigeria
Africa’s biggest food producer will sell its 49% interest in the food, dairy and beverage company back to its parent
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...