UK Ekeh
UK Eke, Group Managing Director, FBN Holdings

BY EMEKA EJERE

FBN Holdings Plc has notified its stakeholders and the general public that there is an ongoing dialogue regarding a planned divestment of its 65% stakeholding in FBN Insurance Ltd.

In a brief statement sent to the Nigerian Stock Exchange, FBN Holdings explained that its entire holdings in the subsidiary would be sold to Sanlam PTY Limited, a company which already owns a 35% stake in FBN Insurance.

While the divestment talks with Sanlam PTY continues in the meantime, FBN Holdings is also engaging the necessary regulatory bodies in this regard.

The statement by FBN Holdings also informed stakeholders that further announcements will be made as the discussions progress.

“We are engaging the regulators on this matter and further announcements will be made as the discussions progress. Please direct all enquiries to the Chief Financial Officer, FBN Holdings Plc, Wale Ariyibi,” the statement reads in parts.

 

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