Dangote Flour Mills (DFM) Plc has been officially removed from the Nigerian Stock Exchange (NSE) list, completing the company’s 11-year existence as a public limited liability company.

The delisting marked the official end of Crown Flour Mills, Olam International Limited’s subsidiary, purchasing DFM.The reversal of DFM to a private limited liability company and delisting from the NSE was part of the merger agreement that saw the transformation of DFM to a wholly-owned Crown Flour Mills subsidiary.

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From a modest start as a division of Dangote Industries Limited in 1999, DFM was incorporated and commenced operations as a public limited liability company on January 1, 2006. It was listed on the NSE in 2008. Alhaji Aliko Dangote’s Dangote Industries Limited (DIL) owned the majority equity stake.

Shareholders of DFM had approved a N120 billion takeover of the flour-milling company by Olam International Limited. Olam International offered N120 billion for the acquisition of 99.9 per cent equity stake in DFM.

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At their court ordered meeting in October, 2019, shareholders of DF

This is Dangote’s second time to sell DFM. In 2012, Dangote sold its majority shareholding to Tiger Brands Limited, the largest food company in South Africa. However, in the face of the dire situation of direct liquidation and bankruptcy, Tiger Brands Limited reached an agreement with DIL on 11 December 2015 to resell the troubled flour mill

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