Aliko Dangote has resigned from the
board of Tiger Branded Consumer Goods Plc (formerly known as Dangote
Flour Mills) on Monday, November 16, 2015.#
Africas richest man alongside three
other directors, Olakunle Alake, Asue Ighodalo and Arnold Ekpe. resigned
as majority owner Tiger Brands cut funding support to its struggling
Nigerian division.
South Africa’s Tiger Brands said it was
“currently exploring various alternatives with respect to its
shareholding” of 63.35% in the company. Aliko Dangote holds 10 percent
of the company’s equity through Dangote Industries.
Tiger Brands Ltd. said it won’t provide
further financial assistance for the struggling Nigerian unit which it
bought from Dangote Industries in 2012 for about $150 million.
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