Ecobank warns FMN against Honeywell acquisition deal

November 24, 2021

Ecobank said it had advanced several loan facilities, which included working capital disbursements, to Honeywell Flour Mills.

Ecobank Nigeria has warned Flour Mills of Nigeria, (FMN) not to proceed with its planned acquisition of 71.69 percent of Honeywell Group Limited (HGL) stake worth N80 billion, saying the company is indebted to the bank and facing winding-up proceedings. The warning was issued in a statement by th

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