Leading conglomerate UAC of Nigeria Plc has announced the acquisition of a 51 percent stake in NSE-listed Livestock Feeds Plc, boosting its share of the Nigerian animal feeds market to 32 percent.
The company said in an official statement that: “The transaction has been concluded via a special placement and places UACN as the majority shareholder with a shareholding of over 51 per cent in Livestock, having previously acquired in excess of 11 per cent of the company’s share capital through secondary market trade.
“The transaction has received the required statutory approvals.”
According to a report by Punch newspapers, UACN said in a formal address to the NSE that the proposed transaction would lead to significant development of the agro-allied business industry, which is pivotal to Nigeria’s drive for enhanced agricultural sector contribution to the country’s GDP and food security.
Commenting on the development, UACN’s Group Managing Director, Mr. Larry Ettah, said: “The addition of Livestock Feeds to our business brings our combined share in the Nigerian animal feeds market to 32 per cent.”
“It enhances our response to demand in the industry and provides us with an immediate opportunity to diversify our manufacturing and sales locations”, he added.
UAC of Nigeria has interests in manufacturing, services, logistics and warehousing, agricultural and real estate. The company has been in operations for over a century in Nigeria but was first incorporated under the name Nigerian Motors Ltd.

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