Transaction Summary
Wilmar International Limited (Wilmer), an Asian integrated agri-business group listed on the Singapore Exchange is set to acquire the remaining 50% equity stake in PZ Wilmar Limited (PZ Wilmar) from PZ Cussons plc (PZ Cussons) for $70 million in cash. Formed in 2010 as a joint venture between PZ Cussons and Wilmar, PZ Wilmar has grown to become one of Nigeria's largest sustainable palm oil businesses. The acquisition is contingent on regulatory approvals and is anticipated to conclude by the last quarter of 2025, after which PZ Wilmar’s name will be changed. This acquisition represents a deepening commitment to Nigeria, a market Wilmar views as having substantial long-term potential due to its large and growing population and suitability for palm cultivation.
Term
- Buyer: Wilmar International Limited
- Type of Buyer: Strategic Buyer
- Seller: PZ Cussons plc
- Target: PZ Wilmar Limited
- Transaction Type: Merger & Acquisition
- Type of M&A: Buyout
- Financing Type: Equity
