FBN Holdings Plc has announced its decision to sell its entire 100% equity stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP. This move is part of the company’s strategy to streamline its portfolio.
Thank you for reading this post, don't forget to subscribe!In a statement released on Friday, September 7, 2024, FBN Holdings, represented by acting Company Secretary Adewale Arogundade, outlined that the transaction is in accordance with the Nigerian Exchange Limited (NGX) Rulebook.
The sale follows a competitive bidding process, with EverQuest Acquisition LLP, a consortium including Custodian Investments PLC, Aoin Investments, and Evercorp Industries, emerging as the preferred bidder.
The completion of the sale is pending approval from relevant regulatory bodies.