Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) (47108 Views)
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| Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by chimjoshjuan: 4:17pm On Apr 23, 2019 |
Aliko Dangote is reportedly selling his loss-making business unit, Dangote Flour Mills to Olam International for N130 billion ($361.11 million). The sale of Dangote Flour Mills Plc for N130 billion ($361.11 million), was announced in a corporate disclosure posted on the Nigerian Stock Exchange (NSE) on Tuesday. According to Thabo Mabe, director at Dangote Flours, Olam International has indicated interest to acquire all the outstanding and issued shares of the flour mills company that are not currently owned by Ola through its subsidiary, Crown Flour Mills Limited. “The total consideration offered by Olam and being considered by the Board of Dangote Flour Mills for the entire 5 billion issued shares of the company is N130 billion. “The consideration represents the enterprise value on a debt-free, cash-free basis, payable in cash at the closing of the proposed transaction. This consideration will be adjusted for net working capital and net debt as of 31 March 2019 or any other later date that may be agreed by Olam and the Board of Dangote Flour Mills to arrive at the final price payable to equity shareholders.” https://unclesuru.com/2019/04/23/dangote-is-selling-dangote-flour-mills-for-n130-billion-361-11-million/ 4 Likes 3 Shares
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| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by soberdrunk(m): 4:29pm On Apr 23, 2019 |
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......  351 Likes 34 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Realtord43: 4:29pm On Apr 23, 2019 |
wow, mayb i should buy these one. 12 Likes 7 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Bruno3000(m): 4:44pm On Apr 23, 2019 |
haba... no reduction? how much be last price? 46 Likes 3 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by ahiboilandgas: 5:08pm On Apr 23, 2019 |
soberdrunk:which enterprise u don create loss or profit making or sme or u still dey write jamb...in no distant time olam will create either a monopoly or oligopoly and will recover all those investment.the population and consumption is there they might even buy up flour mill and indomie ....it might be a 10 years plan ...olam is American firm ....this how billion are made in trade 123 Likes 12 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Legendguru: 5:24pm On Apr 23, 2019 |
soberdrunk: dude said it all. without political backinga dangote would have just been like those ordinary business men out there from day one.its hard to make it and stay through in nigeria without getting hands dirty. the monopoly in cement with no solid competitors really help boost his business accross west africa .i hope he doesnt regret the refinery investment 173 Likes 10 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Nobody: 5:50pm On Apr 23, 2019 |
Is it no more viable? 1 Like 2 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by nurez305(m): 5:50pm On Apr 23, 2019 |
Give me that monopoly with 1million naira and see if I won't be African richest man. Dangote everywhere 29 Likes 1 Share |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Factfinder1(m): 5:50pm On Apr 23, 2019 |
Am paying for it first thing tomorrow morning....somebody say amen 18 Likes 2 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by hisgrace090: 5:50pm On Apr 23, 2019 |
Dangote!! The competition is getting hotter for the guy man I swear. 2 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by abumoney(m): 5:50pm On Apr 23, 2019 |
Somebody should come let's do collabo. We have to dethrone Dangote 10 Likes 3 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Benwems(m): 5:51pm On Apr 23, 2019 |
He is selling it before it's not as profitable as his cement business. Dangote does not joke with cement. He can dash you money but he can't dash you cement. 86 Likes 6 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by bettercreature(m): 5:51pm On Apr 23, 2019 |
OkaNaUbe: |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by OakRealtorsNG: 5:51pm On Apr 23, 2019 |
Warehouse for Lease @Wemco Road, Ogba...3 bays warehouse of 28'800sqf on 2,692sqmt land is up for lease. The warehouse has a large parking spaces for trailer, its sited Total Land area of 2.2 acres of Land Rent:. *70M/annum* (asking price) _3 years minimum lease 5 years maximum lease_ Contact: 08075256644 oakrealtorsng@gmail.com www.oakrealtors..com 1 Like 1 Share |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by mrjaydee(m): 5:51pm On Apr 23, 2019 |
I go buy am 125billion if he accept my offer  11 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by cr7lomo: 5:52pm On Apr 23, 2019 |
soberdrunk: U said it all...how can the richest man in Africa not have a thriving business outside Nigeria Look at shop rite , multi choice, mtn....these are south African businesses thriving outside south Africa, that's hw u know a good business man... Dangote just de use Nigeria make real money due to the monopolistic nature of government help... 107 Likes 10 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Elslim: 5:52pm On Apr 23, 2019 |
Jesu |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Nobody: 5:52pm On Apr 23, 2019 |
Disturbing pattern. First it was the noodles, now this. I'm sure he knows best. 2 Likes 1 Share |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Lotel: 5:52pm On Apr 23, 2019 |
Factfinder1: 16 Likes 1 Share
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| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Xbee007(m): 5:52pm On Apr 23, 2019 |
How do I contact him? I am interested. |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by adecz: 5:52pm On Apr 23, 2019 |
 N130bn??  I suspect some politicians are using this Olam company to launder money stolen from the citizens of the Federal Republic of Nigeria.  10 Likes
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| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by NOC1(m): 5:52pm On Apr 23, 2019 |
Legendguru: you lied bro, he started without political backing, before he came the likes of Ibru was in charge, other people like Eleganza and co was there. He sustained his bussines for him to be where he is today. there is no successful bussines man (billionaire) without some dirty deals undertone. Government in all countries ignore them because of the ripple effect on their economy if they go after them without a defined backup plan. All counties play a pivotal role in sustaining thier successful bussines men. 56 Likes 3 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Nobody: 5:52pm On Apr 23, 2019 |
He should also sell his Noodles and Pasta manufacturing plant. His Noodles and Pasta taste like sh*t! 19 Likes 2 Shares |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Dacronym(m): 5:52pm On Apr 23, 2019 |
Dangote, Dangote, Dangote still dey Find Money oh Y'all Check out my Signature Support me I may Become the Next Dangote 6 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by TANID(m): 5:52pm On Apr 23, 2019 |
Aunty Tohyorsih2 Would You Buy It Or I Should Buy It For 300Billion 3 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by princeade86(m): 5:52pm On Apr 23, 2019 |
Pls how can I bid for it? 2 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by trapQ: 5:53pm On Apr 23, 2019 |
Damn! |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by Mescana22(m): 5:53pm On Apr 23, 2019 |
So without government Dangote is a gunner? 8 Likes |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by MYGRATEskillz(m): 5:53pm On Apr 23, 2019 |
*DANGOTE AFTER SELLING THE FLOUR MILL* "ehn kreonke... zo mana, how much for Arsenal again". 17 Likes 1 Share |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by TANID(m): 5:53pm On Apr 23, 2019 |
J |
| Re: Dangote Is Selling Dangote Flour Mills For N130 Billion ($361.11 Million) by ajalawole(m): 5:53pm On Apr 23, 2019 |
buhari effect 6 Likes |
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