First HoldCo Don Sell FBNQuest, Na Wetin Remain?

Abuja, Nigeria – Dem don finally settle matter as First HoldCo Plc don sell im full 100% stake wey dey FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP. This transaction no be from back door, e don clear all regulatory approval wey dem need from Central Bank of Nigeria (CBN).

Inside statement wey Abiola Baruwa, di group company secretary, share on Saturday, dem talk say, “We dey follow di Nigerian Exchange Limited (NGX) Rulebook, and we wan inform dem say di sale don complete.”

As dem dey gather di gist, e shed light say First HoldCo drop dis FBNQuest matter to EverQuest after dem see say dem dey plan well for di future. Na EverQuest wey consist of Custodian Investments Plc, Aion Investments and Evercorp Industries, dem come out as di preferred bidder after dem don shine dem eyes for competitive bid process.

For September wey don pass, dey fit no b say First HoldCo enter agreement to sell FBNQuest to EverQuest, but wetin dey happen we say dem fit gree say dis sale na part of dem strategy to re-arrange wetin dey their portfolio.

Although dem no gree talk how much dem sell am for, analysts dey yan say na di new capital requirements from CBN influence am small. As e be now, di market value for di remaining shares wey First HoldCo get dey relax around N1.3 trillion following some small price movements wey show di group dey try steady.