Soap maker PZ Cussons (LSE:PZC) said it wants to acquire the 26.73% stake in its Nigerian offshoot it doesn't own for £22.8 million.
Following this acquisition, the group plans to de-list PZ Cussons (LSE:PZC) Nigeria (PZCN) from the Nigerian stock exchange.
The move aims to simplify and bolster its operation there, investors were told.
The acquisition is pending approval from the PZCN board, regulatory bodies and a vote from PZCN's minority shareholders.