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FX CRISIS: PZ Cussons To Sell Nigeria Subsidiaries, Others
Multinational consumer goods company, PZ Cussons, says it has commenced plans to sell its African subsidiaries to any interested buyer.The parent company of PZ Cussons Nigeria said it is looking at a partial or full sale to mitigate the company’s exposure to fluctuations in the naira, which has devalued by 70 per cent.The company stated this in its preliminary results published on its website for the year ended May 31, 2024.According to the consumer goods manufacturer, the board has also received multiple interests regarding the sale of its African business.
Multinational consumer goods company, PZ Cussons, says it has commenced plans to sell its African subsidiaries to any interested buyer.
The parent company of PZ Cussons Nigeria said it is looking at a partial or full sale to mitigate the company’s exposure to fluctuations in the naira, which has devalued by 70 per cent.
The company stated this in its preliminary results published on its website for the year ended May 31, 2024.
According to the consumer goods manufacturer, the board has also received multiple interests regarding the sale of its African business.
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