UAC of Nigeria says its acquisition of CHI Limited is fully financed and targets completion within four months, pending regulatory approval.
United Africa Company, UAC of Nigeria Plc has confirmed that the acquisition of CHI Limited, maker of Chivita and Hollandia, is fully funded and expected to close within two to four months, subject to regulatory approvals, the company said today.
During a recent investor briefing, Group CEO Fola Aiyesimoju explained that UAC secured financing through a combination of internal cash reserves and bank loans, ensuring the deal aligns with its strategic growth plan
Aiyesimoju added:
“We had planned for this years in advance … our foundation, people, IT systems, risk controls, was strong enough to manage a larger business.” He emphasized that the CHI acquisition fits UAC’s long-term strategy
UAC’s share price has surged significantly since the acquisition announcement. It appreciated roughly 21% over two trading sessions, reflecting strong investor confidence in UAC’s expansion roadmap
