Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has played a key role in the restructuring of A.G Leventis Nigeria. Two of the company’s subsidiaries were involved in the implementation of a minority buyout and delisting of A.G Leventis from the Nigerian Stock Exchange.
Stanbic IBTC Capital Limited acted as Financial Adviser to A.G. Leventis and coordinated the entire transaction; while Stanbic IBTC Stockbrokers Limited was the official stockbroker. A.G Leventis was formally delisted from the Nigerian Stock Exchange.
Stanbic IBTC had, for over a decade, engaged the management of A.G. Leventis and the Core Shareholders around the optimal corporate structure for the Company, considering its future expansion plans and capital requirements.
The successful delisting of A.G. Leventis signifies that the company will have the flexibility to raise the required capital while the Core Shareholders continue to provide the much-needed support to turnaround the Company.
A.G. Leventis is owned by entities controlled by the Leventis Family, who are also key shareholders in CocaCola Hellenic Bottling Company and Frigoglass. Boval S.A on behalf of itself, Leventis Holding S.A and Leventis Overseas Limited (the “Core Shareholders”) bought out the other shareholders of the Company at 70 kobo per share.
As A.G Leventis gets set for re-registration as a private company, it is expected that Stanbic IBTC will continue to offer financial advisory support, especially as the company gets set for a turnaround.