Nestl\u00e9 Nigeria Plc is seeking regulatory and shareholder approval for the proposed transfer of its waters and premium beverages business to Peranel, a 50:50 joint venture between its parent company, Nestl\u00e9 S.A., and global investment firm Platinum Equity.<\/p>\n
The company disclosed this in a notice to the Nigerian Exchange Limited (NGX), its shareholders and the investing public, providing an update on the proposed business restructuring.<\/p>\n
The development follows the July 30, 2026 announcement that Nestl\u00e9 S.A. and Platinum Equity had entered into an exclusive arrangement to establish Peranel as a joint venture for Nestl\u00e9\u2019s waters and premium beverages business.<\/p>\n
Nestl\u00e9 Nigeria said its board met on October 28, 2026, to consider management\u2019s report on developments since the initial announcement.<\/p>\n
According to the company, the proposed transaction in Nigeria will involve transferring its existing waters and premium beverages business to a newly established company, which will subsequently become part of Peranel.<\/p>\n
Following its review of management\u2019s report, the board resolved to seek the necessary regulatory and shareholder approvals to facilitate the transaction.<\/p>\n
As part of its consideration of the proposed carve-out, the board reviewed three reports relating to the valuation and fairness of the transaction.<\/p>\n
The assessments are expected to provide an independent basis for evaluating the proposed transfer and its consideration.<\/p>\n
Nestl\u00e9 Nigeria clarified that the proposed transaction would not affect its parent company\u2019s ownership interest in the Nigerian subsidiary.<\/p>\n
It added that further announcements would be made as required under applicable regulatory and disclosure obligations.<\/p>\n