Flour Mills of Nigeria (FMN) Plc has obtained all approvals to acquire a 71.69 per cent stake in Honeywell Flour Mills Plc (HFMP), formerly a portfolio company of Honeywell Group.

It also acquired a 5.06 per cent stake in HFMP held by First Bank of Nigeria Limited.

Flour Mills, in a statement at the weekend, confirmed that the acquisition had been approved by relevant regulators, such as the Federal Competition and Consumer Protection Commission, Nigerian Exchange Limited and Securities and Exchange Commission. FMN’s Group Managing Director Mr. Boye Olusanya said the company was delighted that approvals had been received.