Turner Wright Limited (TWL) has ended its business deal with Big Time Holdings Incorporated (BTHI) and Williamsville Smith Management Limited (WSML), associated companies of controversial Milost Global Incorporated that claims to be an American private equity firm. TWL is a Nigerian company providing solutions in animal health, animal nutrition and hygiene. Milost had proposed to acquire 70 per cent equity in the Nigerian company, which manufactures veterinary pharmaceuticals, in a deal worth $150 million (about N54 billion) with disbursements expected to conclude within four years. His words: “The object of the share exchange agreement had not materialised by dint of non-performance on the part of both parties; shares were never exchanged between Turner Wright and BTHI. The facility was supposed to grant Turner Wright up to $150 million ($50 million equity and $100 million convertible note).

Source: The Guardian June 14, 2019 03:22 UTC