South African consumer goods firm Tiger Brands said on Tuesday Nigerian authorities had cleared its 1.5 billion rand ($181.98 million) purchase of a majority stake in Nigeria’s Dangote Flour Mills.

The deal, which is the firm’s third, is the biggest in the Nigerian flour market.

“Tiger Brands believes, particularly for consumer goods, that the potential of the Nigerian market is significant,” the company said in a statement.

Tiger Brands will acquire just over 63 percent of Dangote Flour, a flour and pasta maker owned by billionaire industrialist Aliko Dangote.

The company is the second largest flour milling company in Nigeria with a market share of about 30 percent. It also has about 40 percent of the country’s pasta market.

Tiger Brands has been ramping up its expansion in fast-growing African markets and last year increased its footprint outside its home base with acquisitions in Nigeria and Ethiopia.

amosy007: hmmmmmm i hope they wont take over the company soon.... i cant stand another south african company exploiting us
dangote is a devil but devil we know is better than the angel we dont

jammyng: This could affect the price of bread.

acidosis™:

Dangote is not devilish

consultmartins: Take it or leave it,Dangote has a goal to be one of the top ten richest men in the world. He reducing his stake in other companies to concentrate on making Dangote cement, the world best. Expect his LSE listing anytime soon. I look forward to seeing his name on the top ten list of world billionaires. Go Dangote go.

amosy007: hmmmmmm i hope they wont take over the company soon.... i cant stand another [b]south african company exploiting [/b]us
dangote is a devil but devil we know is better than the angel we dont

k2039: just wondering if dangote flour wont be rebranded since the SA company now owns a higher stake

specco: I am not excited about this news at all. When you take into consideration our running battle with other S A owned companies in Nigeria like MTN and Multichoice then you would predict where the price of this important staple food (bread) is headed. It is a pity that they have now taken control of Danflour.

Billyonaire: It will be obviously rebranded if the majority stake holder feels so. 63% is majority, but its nothing considered to what Dangote can do with $181.98 million in the Cement Industry. Dangote is also investing in Power Sector, and $181.98 million input if actually added to his stakes in the power sector will catapult Dangote into the world's richest man. Do you know what it means to own a power plant and/or distribution license? Dangote will beat Bill Gates within 5 years, mark my word.

amosy007: hmmmmmm i hope they wont take over the company soon.... i cant stand another south african company exploiting us
dangote is a devil but devil we know is better than the angel we dont

acidosis™:
Dangote is up to something new..


Or is he trying to make up for the "no more bank loan" syndrome.. ? (well I doubt.. we are talking about the richest black man here)

Wise_old_man: Young man, did u say "beat Bill Gates in 5 years" what are you smoking son. If that would be possible, the you would have to do something about: Windows, Microsoft Office, Xbox, and the others which I have refused to mention.
*N/B: not taking anything away from Dangote (Africa's best) though....

Billyonaire: Must you insult to drive home a point ? I particularly hate, yes, I hate people who insult people to drive home points. Windows products face stiffer competition and has few products as flagship, same can not be said of Dangote, whose investments span Oil wells in Nigeria and Equatorial Guinea, his stakes in telecoms in East Africa, His stakes in Power bids, his stakes in cements production, his rail line projects in the pipeline, Dangote sugar, Dangote pasta just to mention but a few. I still stand by my assertion that Dangote might beat William Gates in 5 years. Cos Bills fortune can only diminish cos bill has reach his peak and can only innovate but Dangote is just beginning

Nimakor: [/quote][quote author=Nimakor]

bayooooooo:

Change the highlighted to CAN NOT.

berem: How many Tiger product we go get for naija? We get Tiger Battery,Tiger Generator and Tiger Torch.now na Tiger Flour! Na Tiger be the only animal wey God create? Tiger ko! Antelope ni!