PZ Cussons embarks on corporate restructuring | Independent Newspapers Limited
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PZ Cussons embarks on corporate restructuring

Posted: Apr 2, 2015 at 12:05 am   /   by   /   comments (0)

PZ Cussons Nigeria Plc has notified The Nigerian Stock Exchange that its Board of Directors has resolved to embark on a corporate restructuring which would involve the business combination of two of its wholly owned subsidiaries ;PZ Power and PZ Tower with the parent company PZ Cussons Nigeria Plc.

The business combination would be effected via a scheme of arrangement.

The restructuring is being carried out with a view to simplifying the company’s corporate structure  and operations, reducing administrative costs and improving operational efficiency.

The company states that the proposed merger will be subject to the receipt of the appropriate approvals from the Securities and Exchange Commission and the Federal High Court.