Dangote sells noodle plants for $12m

Dangote Group President, Alhaji Aliko Dangote

 

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines to rival pasta maker De United Foods Industries for N13.75 billion ($12.26 million), the company said on Tuesday.

De United said it has signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It would also buy stock worth N383.94 million. (Reuters)

Source News Express

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