OREANDA-NEWS. Unilever Overseas Holdings B.V. ("Unilever") would like to announce its intention to make an offer to increase its equity stake in Unilever Nigeria PLC ("Unilever Nigeria" or the "Company") from 50.04% up to a maximum of 75% (the "Proposal") and to maintain the Company's listing on the Nigerian Stock Exchange. Unilever Nigeria is present in the Nigerian market in foods, refreshment, household and personal care products.

Under the terms of the Proposal, Unilever would acquire up to 944,465,532 shares in the Company at an intended offer price of NGN 45.50 per share in cash (the “Offer Price”). It is intended that the Proposal would be effected by way of a Tender Offer, by giving any shareholder who elects to sell some or all of their shares in Unilever Nigeria the opportunity to do so.

The Proposal represents a premium of 33.8% to the Company's closing share price on 23 March 2015 and a premium of 33.2% to the 3 month Volume Weighted Average share price. The total value of the transaction at the intended Offer Price and maximum acceptance is approximately NGN 42.973 billion or €200 million (based on prevailing foreign exchange rates).

Bruno Witvoet, Executive Vice President of Unilever Africa: "This Proposal demonstrates our commitment to the Unilever Nigeria business and confidence in the long-term growth prospects of the company and consumer goods sector in Nigeria."

The Proposal will be subject to the prior approval of The Nigerian Stock Exchange and the Nigerian Securities and Exchange Commission. The formal offer documentation will be posted to shareholders as soon as these approvals are obtained. Citigroup Global Markets Limited and Chapel Hill Advisory Partners Limited are acting as financial advisers to Unilever Overseas Holdings B.V.