By Peter Egwuatu
Honeywell Group is set to grow its investment portfolio following the approval for the acquisition of one of its subsidiaries by Flour Mills of Nigeria.
The deal, which has recently been approved by the relevant regulatory bodies, is now poised to create the biggest consumer goods company in Nigeria.
While answering questions on its portfolio investment plan, the Managing Director of Honeywell Group, Mr. Obafemi Otudeko, expressed his optimism on the impact the merger will have on the two companies, the FMCG industry, and the Nigerian economy at large.
He stated: “We are pleased to have secured regulatory approvals for the transaction, which will create a business that further serves Nigerian consumers as well as grow our portfolio ahead of the third quarter, Q3’22.”