Consumer products group PZ Cussons Plc has announced progress regarding the sale of its Nigerian dairy business Nutricima.

PZ Cussons has exchanged contracts for the sale of the assets associated with Nutricima’s business to FrieslandCampina WAMCO Nigeria Plc, an affiliate of Royal FrieslandCampina in the Netherlands. Under Nigerian law, completion of the transaction is subject to merger clearance.

Caroline Silver, executive chair of PZ Cussons, said the proposed sale o...