{"id":7108,"date":"2017-11-15T05:33:12","date_gmt":"2017-11-15T05:33:12","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/indomie-buys-dangote-plants-in-ikorodu-calabar-for-n3-75bn\/"},"modified":"2017-11-15T05:33:12","modified_gmt":"2017-11-15T05:33:12","slug":"indomie-buys-dangote-plants-in-ikorodu-calabar-for-n3-75bn","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/indomie-buys-dangote-plants-in-ikorodu-calabar-for-n3-75bn\/","title":{"rendered":"Indomie buys Dangote plants in Ikorodu, Calabar for  N3.75bn"},"content":{"rendered":"<p>\n<\/p>\n<div itemprop=\"description\" readability=\"78\">\n<p>Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines in Ikorodu and Calabar,  to rival pasta maker De United Foods Industries, maker of Indomie Noodles.<\/p>\n<figure id=\"attachment_731625\" style=\"width: 412px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children.jpg?resize=412%2C250&#038;ssl=1\" data-lazy-src=\"https:\/\/i0.wp.com\/www.vanguardngr.com\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif?ssl=1\" alt=\"\" width=\"412\" height=\"250\" class=\"size-full wp-image-731625\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-300x182.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-58x35.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-260x158.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-200x121.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children.jpg?resize=412%2C250&#038;ssl=1\" alt=\"\" width=\"412\" height=\"250\" class=\"size-full wp-image-731625\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-300x182.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-58x35.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-260x158.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2016\/12\/indomie-children-200x121.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">CHRISTMAS PARTY: Children enjoying noodles during an outing to celebrate the yuletide in Lagos. PHOTO;AKEEM SALAU<\/figcaption><\/figure>\n<p>The transaction is valued at  3.75 billion naira ($12.26 million).<\/p>\n<p>De United said it has signed an agreement with Dangote Noodles to buy the plants. It would also buy stock worth 383.94 million naira.<\/p>\n<p><!-- between content ad --><\/p>\n<p>The deal comes after Dangote sold a small stake in its cement business to foreign investors in a one-off stock market deal valued at 27 billion naira.<\/p>\n<p>Dangote Flour Mills, majority owned by Africa\u2019s richest man Aliko Dangote, had said it wanted to quit the noodles business to focus on flour and pasta production, analysts say.<\/p>\n<p>Nigeria\u2019s noodle market is fiercely competitive and De United with a market share of around 70 percent is seeking to consolidate the sector.<\/p>\n<p>Privately-held Dangote Industries Limited, with interests in agriculture, <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> and truck assembly, bought back the flour unit it had sold to South Africa\u2019s Tiger Brand for $1 in 2015 after it posted losses.<\/p>\n<p>Shares in Dangote Flour Mills have more than doubled so far this year after rising 276 percent last year. The stock price was down 3.17 percent on Tuesday at 9.20 naira.<\/p>\n<p>Dufil Prima Foods, the parent of De United Foods, is a privately held company set up over two decades ago, which has grown to become the largest pasta maker in West Africa.<\/p>\n<p>De United said the transaction had been approved by both companies and the regulators.<\/p>\n<p>A banking source close to the deal said that De United would continue to produce noodles under the Dangote brand for two years after the acquisition.<\/p>\n<p>In July Dufil Prima Foods said it would raise 40 billion naira in the local debt market to broaden its <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funding<\/a> base.<\/p>\n<\/p><\/div>\n<p><a hre=\"https:\/\/www.vanguardngr.com\/2017\/11\/indomie-buys-dangote-plants-ikorodu-calabar-n3-75bn\/\"> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines &hellip; <a title=\"Indomie buys Dangote plants in Ikorodu, Calabar for  N3.75bn\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/indomie-buys-dangote-plants-in-ikorodu-calabar-for-n3-75bn\/\"><span class=\"screen-reader-text\">Indomie buys Dangote plants in Ikorodu, Calabar for  N3.75bn<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7109,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[519,1403,9697,684,522,84],"class_list":["post-7108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-africa","tag-buy","tag-foreign-investors","tag-lagos","tag-nigeria","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/indomie-children.jpg?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3232,"url":"https:\/\/amazingproperty.com.ng\/blog\/suspected-thugs-destroy-proposed-dangote-affiliated-onitsha-depot\/","url_meta":{"origin":7108,"position":0},"title":"Suspected thugs destroy proposed Dangote-affiliated Onitsha depot","author":"Amazing Property","date":"April 13, 2017","format":false,"excerpt":"Awka\u2014THUGS suspected to be agents of an Anambra-born business mogul (names withheld), have been fingered in the wanton destruction of the property belonging to an Onitsha \u2013based company, Bontus Oil and Gas Ltd. Bontus Oil and Gas is currently working out an arrangement with Dangote Group to be its main\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6730,"url":"https:\/\/amazingproperty.com.ng\/blog\/government-awaits-tin-can-island-apapa-road-design\/","url_meta":{"origin":7108,"position":1},"title":"Government awaits Tin Can Island-Apapa road design","author":"Amazing Property","date":"October 23, 2017","format":false,"excerpt":"Minster of Works, Power and Housing, Babatunde Raji Fashola. Expectations were high at the weekend for the planned rehabilitation works on the Tincan-Apapa Port Road expected to start on November, as the Dangote group will submit the design tomorrow. 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