Turner Wright Limited Executes a binding Milost Equity Subscription Agreement with a New York Based Africa Friendly PE Giant
- Created: Thursday, 24 May 2018 21:21
- Written by GlobeNewswire
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LAGOS, Nigeria, May 24, 2018 (GLOBE NEWSWIRE) -- Turner Wright Limited (the “Company”) (http://www.turnerwrightng.com/), a leading Nigerian company providing solutions in animal health, animal nutrition and hygiene is pleased to announce that it has executed a Milost Equity Subscription Agreement financing facility with Milost Global Inc (the "Investor") for $150 million financing, of which $50 million is in equity and $100 million debt. With respect to the sourcing of the financing, Turner Wright was advised by Palewater Advisory Group Inc as its sole transaction advisor and financing facilitator. https://www.youtube.com/watch?v=PKwDto_Q50k
The Chairman & Managing Director of Turner Wright Limited, Dr. Tunde Lawal, stated that, “The opportunity of closing the MESA financing with the Milost has breathed a new lease of life into our business. The infusion of fresh capital and subsequent capacity expansion will definitely go a long way towards broadening our product portfolio and expanding our market reach throughout Africa, in line with our vision of guaranteeing Food Security through the provision of high quality and affordable animal protein from healthy livestock and poultry.”
Senior Partner & CIO of Milost Global Inc, Solly S. Asibey stated, “As a specialised pharmaceuticals manufacturing company, Turner Wright controls a strong, yet very niche market and is amongst the top three nationally in Nigeria in its operational sub sector; and is poised to exponentially increase its market share within the West African region and beyond. The Milost facility will be used for growth and expansion capital to meet market demand. We are excited about this great investment, and are assured of great returns for all stakeholders accordingly.”
Kim Freeman, Managing Partner & CEO of Milost Global Inc also stated, “We are very pleased to have executed the MESA with Dr Lawal as the financing allows Turner Wright’s current strong management team to expand production of its different products to meet the shortfall in Nigeria and beyond. It will also enable Turner Wright to assess acquisitions and other opportunities in future.”
About Turner Wright Limited
Turner Wright Limited was incorporated in 1997 with its main objectives being, amongst others, to engage in the manufacture, production, distribution and marketing of all kinds of animal health pharmaceuticals and biological. It is also in the business of importation and exportation of pharmaceuticals, biological and acting as manufacturer’s representatives for animal health, animal nutrition and hygiene products.
From its Head Office in Lagos, Turner Wright serves its customers scattered across the length and breadth of Nigeria and indeed the west Africa sub region through a very vibrant network of veterinary and allied professionals. The feedback of this relationship is trust and the result is that brands promoted by the company serve as the industry gold standards in its markets. http://www.turnerwrightng.com/
- Created: Thursday, 24 May 2018 21:13
- Written by GlobeNewswire
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NEW YORK, May 24, 2018 (GLOBE NEWSWIRE) -- Ibeto Cement Company Limited (“Ibeto”), a Nigerian cement company has executed a binding MESA (Milost Equity Subscription Agreement) with Milost Global Inc. for a $850 million financing, of which $500 million is in equity and $350 million debt. The Company has also started the process going public a reverse merger in the United States as efforts to become a publicly traded company. On Friday May, 25 the Nigerian Dollar Billionaire Chief Cletus Ibeto will personally consummate the acquisition of a publicly traded Company the he will used to reverse the assets of his cement business in America, the final acquisition and definitive agreements have already been executed. The transaction was solely advised by Palewater Advisory Group Inc., and the going public transaction will allow Ibeto Cement to raise enough capital in the US public markets outside the Milost financing as well and put the company in the forefront of the cement industry in Africa. Chief Ibeto plans to grow the company beyond west Africa through the acquisition of other profitable cement businesses outside Nigeria within the next 12 months, this will be done at the back for the development of the two new plants.
Dr Cletus M. Ibeto, Chairman of Ibeto Cement Company Limited, stated, “Our key strategic objective in the vast and extensive development of the cement business in Nigeria and the West African sub-region is to make cement affordable to all Nigerians and tiers of government in such a way that they should be able to develop modest homes for themselves and their families inclusive of road infrastructure. As far as I am concerned and with the knowledge I have and what I know in this business, the cement business is an investors’ haven especially in Nigeria and a much more profitable business than even crude oil where a lot of people think is the best place to invest. This probably explains why the few people in the business have deliberately created very strong barriers to entry into the industry for prospective investors. It is therefore my honest belief that this reverse merger will enable us to accomplish this objective. In the end and, in line with our strategic intent and objective, we are geared to be a world-class cement company in terms of quality, affordability, innovation, service, environment, safety, and corporate governance and also to be a part of building the country’s needed infrastructure all of which certainly guarantees good returns on investment for the stakeholders.”
Solly S. Asibey, Senior Partner & CIO of Milost Global Inc., stated, “International equity, coupled with the diversification of our investment portfolio is key to our strategy for growth in emerging markets. Excellence, innovation, unparalleled strategy, industry knowledge, favourable IRR and strong leadership epitomises the partnership between Milost and Chief Cletus Ibeto. This is a great investment opportunity for Milost, and the financial engineering behind the structuring of the transaction will catapult Ibeto Cement to exceptional heights.”
Kim Freeman, Managing Partner & CEO of Milost Global Inc., also stated, “Ibeto Cement is an important investment for Milost in Nigeria and indeed Africa. We expect this transaction to provide a template for our other investments in Africa which will continue to enhance the value of the companies we invest in as well as value for our investors.”
- Created: Tuesday, 10 April 2018 22:53
- Written by Nasdaq GlobeNewswire
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NEW YORK, April 10, 2018 (GLOBE NEWSWIRE) -- Williamsville Sears Management Inc. (OTC Pink:WSML) ("WSML" or the "Company") is pleased to announce that it has signed a Letter of Intent (the "LOI") for the acquisition of PrimewaterView Limited, a Nigerian-based real estate and investment firm, in an all-stock transaction subject to the approval by both companies of definitive documents and the achievement of certain other milestones. PrimewaterView Limited is the number 4 largest real estate development, sales and investment company in Nigeria.
The acquisition anticipated by the LOI is the result of a process initiated following WSML's strategic review announced a week ago. If consummated, WSML will own 100% of the outstanding shares of PrimewaterView Ltd. The due diligence process will follow immediately, PrimewaterView already has PCAOB Audits for over three years now. Since formation, PrimewaterView has developed a total of 702 units, 652 of those have been sold and 50 of those are currently on the market being sold by PrimewaterView. Click the link for completed projects: http://primewaterviewholdings.com/completed-projects/ and https://www.youtube.com/watch?v=CGdrGav7K4M
- Created: Thursday, 29 March 2018 18:25
- Written by Nasdaq GlobeNewswire
- Hits: 278
NEW YORK, March 29, 2018 (GLOBE NEWSWIRE) -- White Smile Global, Inc. also known as Williamsville Sears Management Inc. (OTC Pink:WSML) ("WSML" or the "Company") is pleased to announce that it has signed a Letter of Intent (the "LOI") for the acquisition of FPL Holdings Inc, a New York based investment holding firm, in an all-stock transaction.
Subject to the approval by both companies and the achievement of certain milestones a definitive agreement will be prepared with the final terms for execution. The LOI is the result of WSML's strategic plans to target and bring value to the shareholders.
According to the terms of the LOI, if consummated, WSML will aquire 100% of the outstanding shares of FPL Holdings Inc. and all its subsidiary companies that include Femab Properties Limited in Nigeria. FPL Holdings has a Net Asset Value (NAV) of an estimated $380 million (USD). Audits of FPL and its subsidiaries are underway to confirm all information prior to closing.
Further, WSML will have ten Board of Directors. Four members to be appointed by FPL Holdings Inc, two by Palewater Global Management Inc, two by Milost Global Inc. and two independent members by WSML.