24 Apr 2019 --- Global food and agri-business Olam International has submitted a binding offer to acquire 100 percent equity ownership of Dangote Flour Mills Plc (DFM), a flour and pasta manufacturer in Nigeria, for an enterprise value of NGN 130 billion (approximately US$361 million) on a debt free, cash free basis. The move comes as Olam anticipates demand for flour in Nigeria to continue to grow, driven by increased consumption of convenient and affordable wheat-based products – such as baked goods, snacks and pasta – which are popular among local consumers. Acquiring DFM’s infrastructure hopes to give Olam International a broader reach across the Nigerian population.
