FBN Holdings Plc has clarified the decision to divest its 100% equity stake in FBNQuest Merchant Bank to EverQuest Acquisition LLP.
Thank you for reading this post, don't forget to subscribe!The move is part of a strategy to streamline operations and optimize its portfolio.
The company confirmed that the sale, announced to the Nigerian Exchange Ltd. (NGX), pertains only to FBNQuest Merchant Bank and does not impact its other subsidiaries.
Entities like FBNQuest Capital, FBNQuest Asset Management, and FBNQuest Trustees remain integral to the group’s strategic focus, as noted by Acting Company Secretary, Adewale Arogundade.
This divestment, typical in corporate restructuring, allows companies to focus more on core operations, improving efficiency and value. The sale is still subject to regulatory approvals.
