NASCON Allied Industries Plc’s Board of Directors met on lastweek, and unanimously approved a transformative plan to merge with Dangote Sugar Refinery Plc and Dangote Rice Limited, subject to regulatory and shareholder approvals.
The merger plan, if successful, aims to create a formidable food conglomerate powerhouse that has the potential to reshape the Nigerian food industry.
All three companies involved in the merger – NASCON Allied Industries Plc, Dangote Sugar Refinery Plc, and Dangote Rice Limited – are part of the larger Dangote Group, one of the biggest industrial conglomerates in Africa.
The Board of Directors acknowledges that further details of the merger have not been disclosed at this time. The company expects the deal to face rigorous scrutiny from regulators, who will ensure that the merger adheres to all necessary legal and regulatory requirements, particularly with regard to competition in Nigeria’s food sector..
NASCON’s management remains enthusiastic about the potential of this strategic merger, which is expected to bring about substantial synergies and growth opportunities.
