Nigeria, Oct. 4 -- UAC of Nigeria Plc has received from the Federal Competition and Consumer Protection Commission the permission to proceed with its planned acquisition of CHI Limited, the maker of Chivita fruit juices and Hollandia Yoghurt, the company stated in a disclosure on Friday.

The approval from the industry regulator, which has now taken the transaction past its pivotal stage, leaves UAC to wrap up talks with Coca Cola towards finalising the buyout.

"We are excited to officially welcome the Chivita|Hollandia (CHI Limited) team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership," Fola Aiyesimoju, the group managing director of UAC, said in the statement.

"We...