WorldStage– UAC of Nigeria PLC (“UAC”) has entered into a binding agreement to sell its entire 73.29% majority shareholding in Livestock Feeds PLC (“LSF”) to agribusiness firm Sunbeth Treenuts and Sesame Limited (“Sunbeth”).
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The corporate transaction was officially disclosed via a regulatory filing to the Nigerian Exchange Limited (NGX), the Securities and Exchange Commission (SEC), and the investing public.
Key Highlights of the Deal
Transaction Size & Valuation: The all-cash transaction values the 73.29% equity stake at approximately ₦19.5 billion, pricing Livestock Feeds shares at ₦8.85 per share.
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Regulatory Approvals: Completion of the acquisition remains subject to customary closing conditions, including obtaining all required regulatory approvals from authorities such as the SEC and the NGX.
Operational Continuity: Sunbeth indicated that it intends to retain Livestock Feeds’ existing management team and workforce. The acquisition aims to integrate Sunbeth’s agricultural commodity sourcing and trading network with Livestock Feeds’ manufacturing footprint across its plants in Ikeja, Aba, and Kano.
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Strategic Context
The sale marks the end of a 13-year ownership period for UAC, which first acquired a stake in Livestock Feeds in 2012 before expanding its holding to a controlling majority in 2013. The divestment aligns with UAC’s broader portfolio realignment strategy to focus capital and resources on its core operating businesses, including Grand Cereals Limited, paints, real estate, and quick-service restaurants.
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For Sunbeth—a global agro-commodities player active in cocoa, cashew, and sesame sourcing—the deal represents a key expansion step into feed milling, animal nutrition, and downstream livestock supply chains across Nigeria.
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Cautionary Advisory to Investors
In accordance with NGX disclosure rules, the Board of Directors of Livestock Feeds, through Company Secretary Rose Hamis, advised shareholders and market stakeholders to exercise caution when dealing in the company’s shares until further announcements are made regarding regulatory approvals and transaction completion.
