The maker of Imperial Leather and Carex soap has made an offer of almost £23m to take its Nigeria arm private.
Manchester-headquartered PZ Cussons is looking to acquire the 26.73% of shares it does not already own in PZ Cussons Nigeria Plc.
If accepted, the move would see the firm de-listed from the Nigerian stock exchange.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
In a statement to the London Stock Exchange, PZ Cussons said: "The group believes the transaction will significantly simplify and strengthen its business in Nigeria, putting in place a sustainable structure and platform to maximise long-term growth and value.
"The group believes the offer to be attractive for the minority shareholders of PZCN, particularly given the recent macroeconomic developments and foreign exchange challenges.
"It is also confident that the offer is in the interests of group investors, as part of the focus to deliver against its strategy and create sustainable shareholder value.
"The offer will also be subject to the approval of the PZCN board, regulatory approvals and vote of minority shareholders of PZCN. Further announcements will be made in due course, as appropriate."
The move comes after BusinessLive reported in June that currency volatility in Nigeria could shave millions off the revenue and profits of PZ Cussons in a one-off hit to its finances.