NewStats: 3,261,639 , 8,174,597 topics. Date: Thursday, 29 May 2025 at 09:25 PM 186c40

6z3e3g

Dangote’s Bid To Merge Sugar, Salt, Rice Businesses Hits Brick Wall - Business - Nairaland w2a2x

Dangote’s Bid To Merge Sugar, Salt, Rice Businesses Hits Brick Wall (24280 Views)

(4)

(1) Go Down)

Islie: 6:37pm On Apr 19, 2024
The suspension “centred around the current non-operational status of Dangote Rice Limited” by the Securities and Exchange Commission (SEC), Nascon Allied Industries said.


The bid by Africa’s richest man, Aliko Dangote, to merge his sugar, salt and rice companies into one for improved efficiency and robust consolidation will not proceed for now.

Integrating the entities would have enabled Dangote Sugar, Nascon Allied Industries (already listed on the Nigerian Exchange (NGX) and the billionaire’s less-known rice company to leverage economy of scale as one business to gain higher access to capital and boost value.

But the move failed to meet a key requirement for the transaction to progress, Nascon Allied Industries said in a regulatory filing on Thursday.

The suspension “centred around the current non-operational status of Dangote Rice Limited” by the Securities and Exchange Commission (SEC), it added.

Nascon Allied Industries, which manufactures salt in addition to spices and seasoning, noted that SEC’s review came with comments and recommendations. It implies the three entities will return to the drawing board to put things right to continue getting final approval.

The proposal for the business combination was first announced last July, after which the parties to the merger presented the plan to shareholders for consideration. An acceptance of the and conditions by the merging entities later followed.

The companies are part of the much bigger Dangote Industries Limited, and Dangote Sugar has said the transaction aims “to consolidate and solidify the Group’s market position and ultimately reposition the Group to harness future opportunities in the foods industry.”

In December 2021, BUA Group – one of Dangote Industries’ biggest rivals in the cement and consumer goods sectors – consolidated its sugar, rice, flour, pasta and edible oils units into a single firm, later listing it on the NGX as BUA Foods.

Estimated at N720 billion at listing, BUA Foods’ is now worth N6.8 trillion in market value less than four years after.


If the three Dangote companies meet the conditions for approval and the transaction is completed, Dangote Sugar and Nascon Allied Industries will be delisted from the NGX.

Both companies, which at that point will have alternated with Dangote Rice, will be relisted on the stock exchange under a single name.

https://www.timesng.com/news/headlines/687348-dangotes-bid-to-merge-sugar-salt-rice-businesses-hits-brick-wall.html

7 Likes 3 Shares

hisexcellency34: 6:41pm On Apr 19, 2024
The only way prices of foodstuffs will come down is if Dangote has serious competitors. The monopoly he enjoys is killing Nigerians

121 Likes 6 Shares

CodeTemplar: 6:41pm On Apr 19, 2024
Angry dude above ^^^^^

5 Likes

ivolt: 6:53pm On Apr 19, 2024
hisexcellency34:
The only way prices of foodstuffs will come down is if Dangote has serious competitors. The monopoly he enjoys is killing Nigerians
So, in which foodstuff segment does Dangote maintain a monopoly or dominates?
Rice, Beans, Garri or beverages?

45 Likes 6 Shares

JASONjnr(m): 6:56pm On Apr 19, 2024
I'm sure, with time, he has to focus on oil and leaves the commodity market for youngsters....

4 Likes

DuBLINGreenb(m): 6:58pm On Apr 19, 2024
Why is Naija like this sef

1 Like

obinna58(m): 6:59pm On Apr 19, 2024
Food products should be the cheapest things in a given country

12 Likes

STEWpid(f): 6:59pm On Apr 19, 2024
Chai..




Mr Dang Wote!!


The Northern business man that majority of his businesses and incomes are from the South.


What the populace need now is Dangwote Beer.


5 Likes

sammuell(m): 6:59pm On Apr 19, 2024
Ok
tefishy(m): 7:00pm On Apr 19, 2024
It's a positive business idea. Bua foods has got it's name through this same process. So nothing spoil

2 Likes

SEGLIZ: 7:00pm On Apr 19, 2024
brick mansion.

1 Like

adioolayi(m): 7:01pm On Apr 19, 2024
Competition...

Learn from your competitor..

Dangote wan do as BUA has done..but then, they have to wait longer.

1 Like

Pootle: 7:01pm On Apr 19, 2024
hisexcellency34:
The only way prices of foodstuffs will come down is if Dangote has serious competitors. The monopoly he enjoys is killing Nigerians

monopoly in what food sector

9 Likes

Kaybaba5(m): 7:01pm On Apr 19, 2024
This man is really enjoying, the FG N has given him power

2 Likes

NairalandGOAT1: 7:01pm On Apr 19, 2024
ivolt:

So, in which foodstuff segment does Dangote maintain a monopoly or dominates?
Rice, Beans, Garri or beverages?

Cassava, agbado and yam

3 Likes

hisgrace090: 7:02pm On Apr 19, 2024
Bot sugar and milk are extremely expensive this days likewise every bakery products in Nigeria.
Waakanda: 7:03pm On Apr 19, 2024
The taste for 'more' wealth is insatiable.
iHart(m): 7:05pm On Apr 19, 2024
He should better sell off the rice business. Even after merging, the dangote rice will still remain non-operational because there are plenty people in the rice market.

1 Like

HBB1(m): 7:05pm On Apr 19, 2024
ivolt:

So, in which foodstuff segment does Dangote maintain a monopoly or dominates?
Rice, Beans, Garri or beverages?


Agabado,Ewa, Garri, Cassava...🤣

Don't mind the dumbo

5 Likes

mannobi(m): 7:05pm On Apr 19, 2024
D
CartelKenneth: 7:09pm On Apr 19, 2024
Useless monopolist
Making billions off the blood and sweat of common Nigerians
This nigga will not die well😡
MuslimIgbo: 7:11pm On Apr 19, 2024
Greedy man
GlorifiedTunde(m): 7:11pm On Apr 19, 2024
Greedy Capitalist!
bobbybrown007: 7:13pm On Apr 19, 2024
Most of his other items such as the sugar and co...doesn't even stand with others , one day I see him going for the post of the prisedent
Harddiskng(m): 7:14pm On Apr 19, 2024
hisexcellency34:
The only way prices of foodstuffs will come down is if Dangote has serious competitors. The monopoly he enjoys is killing Nigerians

God bless for speaking the truth.

I have said it times without number Dangote industries is bad for Nigeria. It is very visible to even the blind

ivolt:

So, in which foodstuff segment does Dangote maintain a monopoly or dominates?
Rice, Beans, Garri or beverages?

You people asking what food commodity Dangote sells, if you don’t know there are important commodities that whose prices can put inflationary pressure on other commodities.

What is Dangote into Cement, Petroleum (from the 1st day years ago Dangote’s intent to go oil was announced. I said it here years ago that petrol price would skyrocket before the refinery commence), Flour... These 3 alone that do you need more explanation undecided

Too many of you think yourselves as over-wise but y’all are just supreme olodos.

4 Likes 1 Share

deji17: 7:14pm On Apr 19, 2024
ivolt:

So, in which foodstuff segment does Dangote maintain a monopoly or dominates?
Rice, Beans, Garri or beverages?
You dey mind the demented guy?

7 Likes 1 Share

papyjaypaul: 7:18pm On Apr 19, 2024
bobbybrown007:
Most of his other items such as the sugar and could doesn't even stand with others , one day I see him going for the post of the prisedent

Impossible. His business will crumble with politics. He will also be conflicted. Politics is a very dirty game. Look at the Sahara guy that went to Rivers politics. Just resign if you have a new calling

He was old enough to see MKO
EPIJOE: 7:19pm On Apr 19, 2024
FOR SALE
A land facing main Express from Epe to Ijebu ode at iraguishi Epe.
Can be used for shopping mall, hotel, or a filling station.
Freehold.
Family survey,
Deed of Assignment
Asking price #35M.
Size 972Sqm.
Call for inspection
08154295500. Or watsapp .or email [email protected]
Serious buyer pls.
iwaeda: 7:19pm On Apr 19, 2024
Islie:
The suspension “centred around the current non-operational status of Dangote Rice Limited” by the Securities and Exchange Commission (SEC), Nascon Allied Industries said.




https://www.timesng.com/news/headlines/687348-dangotes-bid-to-merge-sugar-salt-rice-businesses-hits-brick-wall.html
This one that keeps milking the poor. I can't when Dangote sugar, flour and salt pay what can be termed dividends. Anyway, I am t owner of Dangote. grin grin grin grin
bobbybrown007: 7:21pm On Apr 19, 2024
papyjaypaul:


Impossible. His business will crumble. He was old enough to see MKO
he knows how to play the game and he knows that dollars and pounds will change hands, that was what one baba did na

(1) Reply)

Hard Times! Economic Downturn Humble Nigeria’s Oil Moguls And Super-rich

(Go Up)

Sections: How To . 26
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or s on Nairaland.