Ten months after Flour Mills of Nigeria (FMN) acquired a majority stake in Honeywell Flour, the former is on the verge of losing some assets owned by the latter to Ecobank.
Ripples Nigeria had reported that Flour Mills acquired a 76.75 per cent stake in Honeywell through its sister companies, Ecowise Horizon Investment Limited and Creywise Investment Solution Limited in April 2022.
However, prior to the acquisition, Ecobank and Honeywell had been at loggerheads over a N5.5 billion debt owed by the food producer since 2013.
