FBN Holdings Plc (NGX: FBNH) on Wednesday notified the Nigerian Exchange and the investing public that Custodian Limited First Pension, a subsidiary of its “flagship subsidiary” has entered into “a definitive agreement with Access Bank Plc for the planned acquisition by First pension of 100% share capital of Access Pension Fund Custodian Limited held by Access Bank Plc.”
FBNH said the transaction has received “no objection” from the Central Bank of Nigeria and the National Pension Commission. However, it added that the completion of the transaction is “subject to to the receipt of all required regulatory approvals.”
In a separate notice issued on the Exchange, Access Holdings Plc (NGX: ACCESSCORP), said that its subsidiary Access Bank Plc has entered a “definitive a agreement with First Pension Custodian Nigeria Limited regarding a proposed purchase by First pension of the entire share capital of Access Pension Fund Custodian Limited held by Access Bank.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.