CAP Plc, Portland Paints set to merge businesses

The Boards of Directors of Chemical and Allied Products Plc (CAP) and Portland Paints and Products Nigeria Plc (Portland Paints) have commenced the process to merge their businesses. According to CAP Plc is a statement released at the Nigerian Stock Exchange on Monday, the decision has beenade in accordance with applicable laws; with CAP emerging as the resultant entity or the proposed merger. However, the proposed merger is subject to the required regulatory and corporate approvals being obtained. According to the statement, signed by David Wright, the managing director of…

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