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Nairaland Forum / Nairaland / General / Business / Dangote Sells Noodle Plants To Rival For N3.75bn (32007 Views)
NETCO Records N4.75bn Profit In 2018 / Dangote Sells Part Of His Business Unit, Dangote Flour Mills, For $361.11m / Nigeria Billionaire Dangote Sells His Nigerian Noodle Plants To Rival For $12M (2) (3) (4)
Dangote Sells Noodle Plants To Rival For N3.75bn by Petercious133: 4:08am On Nov 15, 2017 |
exclusivepp.com.ng A unit of Dangote Flour Mills, Dangote Noodles Limited, has sold two production lines to rival pasta maker, De United Foods Industries, for N3.75bn ($12.26m), the company said on Tuesday. De United said it had signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It will also buy stock worth N383.94m, according to a report by Reuters. The deal comes after Dangote sold a small stake in its cement business to foreign investors in a one-off stock market deal valued at N27bn. Dangote Flour Mills, majority owned by Africa’s richest man, Aliko Dangote, had said it wanted to quit the noodles business to focus on flour and pasta production. Nigeria’s noodle market is fiercely competitive and De United, with a market share of around 70 per cent, is seeking to consolidate the sector. Privately-held Dangote Industries Limited, with interests in agriculture, real estate and truck assembly, bought back the flour unit it had sold to South Africa’s Tiger Brand for $1 in 2015 after it posted losses. Shares in Dangote Flour Mills have more than doubled so far this year after rising by 276 per cent last year. The stock price was down by 3.17 per cent on Tuesday at N9.20 naira. Dufil Prima Foods, the parent of De United Foods, is a privately held company set up over two decades ago, which has grown to become the largest pasta maker in West Africa. De United said the transaction had been approved by both companies and the regulators. A banking source close to the deal said that De United would continue to produce noodles under the Dangote brand for two years after the acquisition. In July Dufil Prima Foods said it would raise N40bn in the local debt market to broaden its funding base. Source:- http://www.exclusivepp.com.ng/dangote-sells-noodle-plants-rival-n3-75bn/ |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by NigerDeltan(m): 10:35am On Nov 16, 2017 |
Wise man 6 Likes 1 Share |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Johnpsite: 10:35am On Nov 16, 2017 |
Ok |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Nobody: 10:35am On Nov 16, 2017 |
I dedicate this space to all the single ladies in the house. Ur time is coming. To all Nigerians one love. To ultimated1 I thank you. Lalasticlala much respect. 8 Likes 1 Share |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by jamexborn(m): 10:35am On Nov 16, 2017 |
Money is good |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Obijulius: 10:36am On Nov 16, 2017 |
Hmmnnn. Even Dangote has lost hope in Nigeria. May have gotten his Canadian invitation. Zombie headslammers continue hoping that Buhari’s corpse will rise again. 2 Likes |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by kay29000(m): 10:36am On Nov 16, 2017 |
Can Dangote be going broke? Impossible. |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by abiolag(m): 10:36am On Nov 16, 2017 |
that strong noodles-cement he dey sell give us 10 Likes 1 Share |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by cynhamscakes(f): 10:36am On Nov 16, 2017 |
We should expect another brand of noodles soon. |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by chidiebere2020(m): 10:37am On Nov 16, 2017 |
Indomie |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Nobody: 10:37am On Nov 16, 2017 |
good for him, I think dangote should focus on cement, his indomie turns to pap immediately it touches hot water it's nothing to write home about. 43 Likes 2 Shares |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by kenzysmith: 10:39am On Nov 16, 2017 |
useless man 1 Like |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by sinaj(f): 10:39am On Nov 16, 2017 |
De United remains the best for me. Dangote noodle doesnt taste well. 1 Like |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by seanswitch(m): 10:39am On Nov 16, 2017 |
You can't have it all. It's wise to sell the unproductive noodles to capable hands. 3 Likes 2 Shares |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by VIPERVENOM(m): 10:39am On Nov 16, 2017 |
Obijulius: 14 Likes
|
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Lordave: 10:40am On Nov 16, 2017 |
kay29000:Impossible is Nothing. 6 Likes |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by personal59: 10:40am On Nov 16, 2017 |
waooo I doubt if dangote can survive good competitor dangote noodles dangote pasta dangote tomato paste dangote maggi and all dangote business where competitors are is down and people will still call him a good businessman abegi Government should please give me the sole right to lighters and matches for minimum of 10years and let's see if am also a good businessman or not 37 Likes 3 Shares |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Samusu(m): 10:40am On Nov 16, 2017 |
This Dangote wise abeg |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by mayorkyzo: 10:40am On Nov 16, 2017 |
He knew noodles was not working for him,and he has done away with it...a smart bizness man... 5 Likes 1 Share |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by nurez305(m): 10:40am On Nov 16, 2017 |
That is the power of competition... upon all the money dangote have , he still can't compete with his competitors in noodles production.... and some people will be hailing him as business expert 29 Likes |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by yomalex(m): 10:41am On Nov 16, 2017 |
interesting Couldn't crack that market? 1 Like |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by FarahAideed: 10:41am On Nov 16, 2017 |
That noodles market is spiritual, despite the fact there are many better noodles the Nigetian masses loyalty is stuck with de uniteds Indomie 8 Likes |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Olalan(m): 10:41am On Nov 16, 2017 |
Didn't want to become a Jack of all trade master of none. |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by soberdrunk(m): 10:42am On Nov 16, 2017 |
The Makers of "Indomie" are the real MVPs, more than 30% of Nigerians dont use the word 'noodles', they call it "Indomie" and it isn't even the best noodles in the country they simply did their homework very well, what is amazing about it is that they don't even waste money on brand ambassadors and irrelevant shows yet.............. Most of these 'executive marketing managers' with all their fancy degrees don't understand the Nigerian market one tiny bit, whoever is in charge of marketing in Glo is doing a very poor job, with the amount of money they spend on marketing, glo sims should be scarce even if their network only comes on 3 hours every day...... 15 Likes |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Nobody: 10:43am On Nov 16, 2017 |
No doubt. Indomie (De-united) has dominated the Nigerian market. They were the only producers for a very long time before competitors came in; hence the Monopoly. Business is a game and I love this game like WTF! 5 Likes 1 Share |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by bastien: 10:43am On Nov 16, 2017 |
Na so, when him know say him noodles no dey sell! |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by salbis(m): 10:43am On Nov 16, 2017 |
A well calculated moves for him I guess. 1 Like |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by dfrost: 10:43am On Nov 16, 2017 |
Hmmm... Interesting times are ahead of us. |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by LordAdam16: 10:44am On Nov 16, 2017 |
FarahAideed: Which one is better ni? My brand loyalty for Indomie no b hia. -Lord 1 Like |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by okonja(m): 10:45am On Nov 16, 2017 |
What has CBN picture gat to do with this now? 9 Likes 2 Shares |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Nobody: 10:45am On Nov 16, 2017 |
Okay. |
Re: Dangote Sells Noodle Plants To Rival For N3.75bn by Fayo111: 10:47am On Nov 16, 2017 |
HEYAH 1 Like |
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