Swiss firm, Nestle S.A injects another N202bn in Nigerian subsidiary

Nestle S.A has continued its monthly ritual of pumping millions of naira into Nestle Nigeria.

The local subsidiary has been a beneficiary of several investments from its parent company.

The Switzerland firm made another financial investment worth N202.22 million in Nestle Nigeria to increase its exposure in the country’s food and beverage market.

According to an insider dealing’s statement obtained by Ripples Nigeria, Nestle S.A, which is a majority shareholder in the local subsidiary acquired a total of 144,447 ordinary shares in the firm on June 18.

READ ALSO: Nestle S.A invests another round of capital into Nestle Nigeria

The transaction was carried out on the Nigerian Exchange Limited at a cost of N1,399.99 per share.

This means a total of N202,224,355.53 was infused into Nestle Nigeria.

This is one of many investments that the global beverage maker had made into the producer of Milo as it increases its bet on Africa’s largest economy despite high inflation and insecurity that had increased the cost of operation in Nigeria.

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