First HoldCo Plc has announced the successful completion of its divestment from FBNQuest Merchant Bank Limited, marking a significant step in the group’s ongoing corporate restructuring.
In a statement issued to the Nigerian Exchange Limited (NGX), the company confirmed that it has finalized the transfer of its 100 percent ownership in FBNQuest Merchant Bank to EverQuest Acquisition LLP.
According to the disclosure, the transaction reached full completion following the receipt of all required regulatory approvals from the Central Bank of Nigeria (CBN).
Abiola Baruwa, Group Company Secretary of First HoldCo Plc, affirmed the conclusion of the transaction and noted that the development has been duly communicated to NGX and the investing public in line with regulatory provisions.
The sale is expected to strategically reposition First HoldCo Plc as it continues to streamline operations and strengthen its focus on core business areas.
Read the statement below
NOTIFICATION OF COMPLETION OF SALE OF FBNQUEST MERCHANT BANK LIMITED
In line with the Nigerian Exchange Limited (NGX) Rulebook, we wish to inform NGX and the investing public that First HoldCo Plc has successfully completed the full divestment of its 100% ownership in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP. This transaction has been finalized after obtaining all necessary regulatory approvals from the Central Bank of Nigeria.
For First HoldCo Plc
Abiola Baruwa
Group Company Secretary
