Honeywell Flour Mills has disclosed that new board members and management teams have been appointed following the acquisition of the company by Flour Mills of Nigeria (FMN), IgbereTV reports
Ripples Nigeria had previously reported that Flour Mills, through its subsidiaries, Ecowise Horizon Investment Limited and Greywise Investment Solutions Limited, acquired 75% equity of Honeywell.
This N333.06 million deal gave Flour Mills the controlling stake in Honeywell, leading to the change of management and board members in the company.
The ongoing shakeup in the board and management team has led to a delay in Honeywell’s 2022 Annual General Meeting (AGM) according to filing submitted to the capital market authority, Nigerian Exchange Limited (NGX) on Monday
