Sunbeth to Buy UAC Nigeria’s 73.29% Stake in Livestock Feeds for N19.5bn

By Aduragbemi Omiyale

UAC Nigeria Plc is planning to sell a 73.29 per cent stake in Livestock Feeds Plc to Sunbeth Treenuts and Sesame Limited for about N19.5 billion.

Sunbeth is a global agro-export company with Nigerian roots, providing ethically sourced cocoa, cashew, and supply chain solutions to advance food security.

The company was established in Nigeria, with a clear vision to advance global food security by sourcing and exporting agro-commodities in a way that empowers origin producers.

The global enterprise operates across key international markets, with footprints in South Africa, Cameroon, Dubai, the United Kingdom, and the Netherlands; proudly rooted in Africa, and purposefully connected to the world.

In a notice to the Nigerian Exchange (NGX) Limited on Wednesday, Livestock Feeds said its major shareholder, UAC Nigeria, has agreed to hand over its stake to Sunbeth, subject to regulatory approvals.

Already, the two major parties involved in the deal have agreed, according to a part of the notice, which said, “UAC has entered into an agreement to sell its 73.29% shareholding in the company (Livestock Feeds) to Sunbeth, subject to receipt of all regulatory approvals.”

“Completion of the Transaction remains subject to the satisfaction of conditions

precedent, including the receipt of all required regulatory approvals.

“The company will notify NGX and the investing public upon completion.

“Shareholders and other stakeholders are advised to exercise caution in dealing in the company’s shares until further announcements are made,” it added.