CAP Plc and Portland Paints Plc receives regulatory approval to merge their businesses

NIGERIA – Chemical Allied Products Plc and Portland Paints Plc have announced plans to transfer all its rights liabilities and business undertakings, including real property and intellectual property to Chemical Allied Products (CAP) Plc. This followed the approval of the proposed merger plan between CAP Plc and Portland Paints Plc by the Federal High Court, Lagos. In a statement sent to Nigeria Stocks Exchange, Portland paints said upon approval by the shareholders at the court-ordered meeting on February 18, the subjoined resolutions of the merger agreement would be effected. In…

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