Greek magnate John Coumantaros gains $14 million in nine days from stake in Flour Mills of Nigeria
Coumantaros owns 63.34 percent of the agro-allied group.
Coumantaros owns 63.34 percent of the agro-allied group.
Coumantaros owns a majority 63.34-percent stake in the agro group.
Coumantaros owns a majority 63.34-percent stake in the company.
Coumantaros owns a 63.34-percent stake in the agro-allied group.
Otudeko owns 66.8 percent of Honeywell Flour Mills.
Coumantaros controls a majority 63.34-percent share in the company valued at $209.1 million.
Flour Mills of Nigeria reported a single-digit increase in profit in the first nine months of its 2022 fiscal year.
Coumantaros, a Nigeria-based Greek businessman, is the chairman of Flour Mills Group.
Honeywell Flour Mills is a leading flour and pasta product manufacturer in Nigeria.
Flour Mills of Nigeria and Honeywell Flour Mills will combine to create an industrial behemoth.
The Central Bank made the announcement on access to foreign exchange for sugar imports on July 16.
The company is Nigeria’s market leader in flour marketing and production.
The gains can be attributed to the company’s increased share price on the Nigeria Stock Exchange.
It will invest at least $300 million in building a new plant and a 15,000-hectare sugarcane plantation.
The hike in prices grew Dangote Sugar Refinery’s revenue by 41.5 percent.
A legal action has been launched against Abdul Samad Rabiu.