Unilever ramps up presence in Africa and Middle East: breaks ground on new Dh1 billion Dubai plant and increases stake in Nigeria by 25 percent

Unilever ramps up presence in Africa and Middle East: breaks ground on new Dh1 billion Dubai plant and increases stake in Nigeria by 25 percent

Unilever has started construction on a new Dh1 billion manufacturing plant in Dubai’s Industrial City. The plant is Dutch personal care manufacturer’s second in the city and is due to open in mid-2016. The facility will produce personal care products from Unilever’s stable of brands, generating up to 400 jobs in the region.

“The demand for personal-care products in the regional market is tremendous and we are seeing rapid growth year-on-year,” said Sanjiv Kakkar, Executive Vice-President, Unilever Mena, Turkey, Russia, Ukraine and Belarus. “Our new facility is a key component to achieving our vision of doubling the size of our business while halving our environmental footprint.”

Meanwhile, Unilever Overseas is hoping to increase its stake in Unilever Nigeria from 50.1 to 75 percent as its extended offer closes tomorrow. Shareholders were given until June 25 to tender their shares for purchase at N45.50 per share in cash, a premium of 33.8 percent on the company’s share price when the offer letter was issued in March. The total value of the transaction is estimated at N42.871 billion.

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