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Tiger Brands buys 63 pct of Nigeria's Dangote Flour

Thursday, 4 Oct 2012 | 9:14 AM ET

LAGOS, Oct 4 (Reuters) - Nigerian billionaire Aliko Dangote on Thursday sold 63 percent of Dangote Flour to South African consumer goods firm Tiger Brands in a deal worth $188 million, brokers said.

The sale of 3.1 billion shares on the Nigerian Stock Exchange was done at 9.50 naira ($0.06) per share, after regulators' approval last month.

(Reporting by Mayowa Oludare; Writing by Tim Cocks; Editing by Erica Billingham)

((tim.cocks@thomsonreuters.com)(+234 803 400 4248))

Keywords: FDM TIGERBRANDS/DEAL